South African Officials Arrest Ex-Finance Minister of Mozambique for Extradition to U.S

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A former finance minister of Mozambique, who approved secret loans that plunged the country into a crisis, has been arrested in South Africa awaiting extradition to the United States, police said Monday.

Manuel Chang, 63, was “arrested on Saturday for… USA extradition“, national police spokesman Vishnu Naidoo told AFP.

Police gave no further details, but media in Mozambique reported that Chang had been arrested at the airport while in transit to Dubai.

A copy of a court document dated December 27, directing South African police officers to arrest Chang for eventual surrender to the US, states that he is wanted for conspiracy to commit “wire fraud”, “securities fraud” and “money laundering”.

Chang was finance minister between 2005 and 2015 under the presidency of Armando Guebuza. Towards the end of his tenure loans to the value of $2 billion were secretly negotiated and signed.

The hidden debt plunged Mozambique into its worst financial crisis since independence in 1975.

Read the original article here: thesouthafrican.com


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