By RFIPalled on 05-01-2019Modified on 05-01-2019 at 20:41

Former Mozambique Finance Minister Manuel Chang was charged on Thursday in the United States with a massive corruption case, a fraudulent financial package that raised $ 2 billion. Manuel Chang is accused, inter alia, of receiving $ 7 million in bribes. In return, he approved secret loans to allow the construction of French fishing vessels. A project that never saw the light of day. Four other people were also charged, including three former Credit Suisse bankers.

The facts - hidden loans of $ 2 billion - date back to 2013. Mozambican officials, including then finance minister Manuel Chang, are proposing to investors to join the Maputo government. It is a question of buying 30 boats at the shipbuilding yards of Normandy's Mechanical Engineering to revive the tuna fishing. Except that, according to the US Department of Justice, the transaction also aimed and perhaps especially to pay bribes of $ 200 million.

Mozambican officials and international bankers are among the beneficiaries. This case is sure to make a big noise in Zurich, at Credit Suisse headquarters, but also in Maputo, because these secret loans, guaranteed by the Mozambican state, have led the country to the brink of bankruptcy.

The International Monetary Fund had to intervene and Mozambique is now living in a time of austerity. Further arrests could be made in this case. The indictment has been redacted in places to hide the names of suspects who have not been arrested, arrested or charged.

Credit Suisse says it will cooperate with the US authorities to shed light on these fraudulent loans.

In the United States, the first hearing in this case was set for January 22 at the Brooklyn court in New York. Former finance minister and current ruling party deputy Manuel Chang is currently on remand in South Africa, pending a review of an extradition request by the US authorities. Manuel Chang is scheduled to appear in a South African court on January 8, and his lawyer has already indicated that he will challenge the extradition request.

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