The former finance minister of Mozambique, Manuel Chang, was sentenced to eight and a half years in prison for his role in a $2 billion fraud. His actions betrayed the trust of the people of Mozambique and defrauded international investors, particularly from the United States.
U.S. District Judge Nicholas G. Garaufis found that Chang conspired to commit wire fraud and money laundering, having accepted $7 million in bribes to facilitate loans for maritime projects.
Brent S. Wible, of the Justice Department's Criminal Division, stated that Chang's misconduct not only violated his duties to Mozambique but also resulted in substantial losses for global investors, underscoring the importance of accountability in such high-profile federal cases.
In addition to his sentence, the court has mandated that Chang pays $7 million in forfeiture and restitution to his victims, with the exact restitution amount to be determined later.
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