NEW YORK - The former finance minister of Mozambique, accused of helping orchestrate a financial corruption scandal that nearly caused the collapse of his nation’s economy and defrauded American investors, was extradited to the United States from South Africa on Wednesday to face charges in Federal District Court, repots the New York Times.
Manuel Chang, the former minister, is suspected of signing off on about $2 billion worth of loans concealed from public view and partaking in a scheme to embezzle hundreds of millions of dollars. He faces charges in the U.S. of conspiracy to commit fraud and money laundering.
The authorities accuse Mr. Chang and members of the country’s political elite of luring investors with the promise of development projects in the tuna fishing industry and maritime security in Mozambique, a southern African nation on the Indian Ocean.
About half a billion dollars went missing, with investigators alleging the money was used to pay bribes and kickbacks to foreign officials and former bankers.
