Tuna bonds - Wikipedia
The tuna bonds scandal (also known as the tuna bond affair or the hidden debt scandal) refers to a debt scandal where the company Privinvest and its owner Iskandar Safa are alleged to have paid over $100 million in bribes to officials in Mozambique and to Credit Suisse for contracts and loans to develop Mozambique's fishing industry and improve maritime security.
Mozambique’s ex-finance minister gets another 2.5 years behind …
2 days ago · NEW YORK (AP) — Mozambique’s former finance minister has been sentenced to serve another two-and-a-half years in prison by a U.S. court for his role in the “ tuna bond ” scandal that triggered a financial crisis in the struggling African nation. Manuel Chang, 69, was convicted last year of accepting payoffs to put his homeland secretly on the hook for about $2 billion in loans from ...
Mozambique ex-finance minister sentenced in US to 8-1/2 years in …
2 days ago · Manuel Chang, 69, was convicted in August by a Brooklyn jury of conspiracy to commit wire fraud and conspiracy to commit money laundering in the "tuna bonds" case, following a four-week trial.
Mozambique ex-finance minister convicted in US over 'tuna bonds ...
Aug 8, 2024 · Jurors found Manuel Chang guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering in the "tuna bonds" case, following a three-week trial in federal court in...
Former Mozambique finance minister on trial in US over 'tuna bond ...
Jul 17, 2024 · The “tuna bond” scandal that shook Mozambique’s economy is washing into a U.S. court. Former Mozambican finance minister Manuel Chang is being tried on charges that he took bribes to secretly commit his country to huge loans that prosecutors say got looted.
Manuel Chang and the 'tuna bond scandal': Mozambique ex …
Aug 9, 2024 · Manuel Chang was found guilty of accepting pay-offs through US banks for approving secret loans. The loans were intended to pay for a fleet of tuna fishing ships and other projects, leading to...
Mozambique’s Ex-Finance Minister Faces Sentencing in New York in ‘Tuna …
2 days ago · NEW YORK (AP) — Mozambique’s former finance minister is set to be sentenced Friday in a New York court on wire fraud and money laundering charges stemming from the infamous “ tuna bond ...
Mozambique 'tuna bond' scandal: Ex-President Guebuza's son …
Dec 7, 2022 · Late last year UK authorities fined the investment bank $178m over the tuna corruption scandal. The bank was also ordered to write off $200m of debt "tainted by corruption" that was owed by...
Mozambique ordered to open files in Credit Suisse, Privinvest 'tuna ...
Mar 3, 2023 · A London judge ordered Mozambique on Friday to allow access to documents held in state offices or risk derailing a blockbuster London lawsuit against Credit Suisse , shipbuilder Privinvest and...
Credit Suisse to pay $22.6mn in restitution in Mozambique ‘tuna bonds…
Jul 22, 2022 · Credit Suisse is to pay $22.6mn in restitution to investors who were defrauded when they purchased debt to help finance a tuna fishing project in Mozambique. The Swiss bank had agreed to the...