💨 Abstract

Manuel Chang, a former Mozambique finance minister, was sentenced to 8.5 years in prison for his involvement in a $2 billion loan fraud scheme to develop the country's fishing industry. The scheme, known as the "tuna bonds" case, involved Chang receiving $7 million in bribes from the Emirati-Lebanese shipbuilding firm Privinvest in exchange for approving loans from banks like Credit Suisse.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖