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Former Mozambican finance minister wanted in the US

Manuel Chang

Former Mozambican finance minister wanted in the US. This is to allow Magistrate Sagra Subroyen to first deliver judgment on the 63-year-old’s bail application on February 15.

Former Mozambican finance minister Manuel Chang‘s extradition case has been postponed in the Kempton Park Magistrate’s Court to February 26.

Manuel Chang

Chang, who served as the minister of finance between 2005 and 2015, was detained at OR Tambo International Airport on December 29, last year, while he was making his way to Dubai.

The arrest came after the United States requested a provisional arrest warrant over Chang’s alleged involvement in financial crimes totalling $2bn (R27.8bn). The US accuses Chang of conspiracy to commit wire and securities fraud and conspiracy to commit money laundering.

“I am pleased to say that we have received the relevant documentation on Monday and we are prepared to proceed with the merits of the case on February 26,” State prosecutor Johan du Toit told the court.

This follows an investigation beginning in 2016, that revealed that, through a series of financial transactions between 2013 and 2016, Chang and his alleged co-conspirators had arranged more than US$2bn (R27.8bn) in fraudulent loans from international investment banks to state entities, purportedly controlled by the Mozambican government.

If the United State’s application to extradite the former minister turns out to be successful, Chang could face a maximum of 45 years imprisonment for the alleged crimes. Chang will remain detained in a single cell until his next court appearance.

Source: Daily Sun

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