Mozambique’s former Finance Minister to be extradited home

Earlier today, Mozambique’s Justice Minister, Michael Masutha said that
Mozambique’s former Finance Minister, Manuel Chang would be extradited back to his home country. The United States of America and Mozambique had both requested that South Africa extradites Mozambique’s former Finance Minister, who was arrested and detained in Johannesburg after a United States District Court in New York found him guilty of defrauding United States investors.

He was charged for conspiracy to commit money laundering, wire fraud and securities fraud which he, alongside three ex-Credit Suisse Group AG bankers (Andrew Pearse, Surjan Singh, and Detelina Subeva), and Jean Boustani (a contractor to the Mozambican companies) arranged secret government-guaranteed loans totalling $2 billion in 2016. The secret government-guaranteed loans were alleged to be for the financing of a tuna-fishing fleet and maritime surveillance project.

The U.S., however, discovered that the $2 billion government guaranteed loans went to fraudulent companies Proindicus, Ematum (Mozambique Tuna Company), and  Mozambique Asset Management (MAM), which were fronts that the men used to launder money.

Following the double extradition request,  Manuel Chang’s chief defence lawyer, Rudy Krause, had said that the court may take a decision on the US extradition request but the request from Mozambique could complicate matters. However, the ultimate decision eventually rested on Masutha, who had to decide whether to have Chang extradited to Mozambique or the US.

“I am satisfied that the interest of justice will be best served by acceding to the request by the Republic of Mozambique. I have decided that the accused, Mr Manuel Chang, will be extradited to stand trial for his alleged offences in Mozambique.” Masutha said in a statement after noting that he put into consideration Chang’s Mozambique citizenship among other things.