Legal Proceedings and Sentencing
, former Mozambique finance minister, received an eight-and-a-half-year prison sentence for his involvement in the tuna bond scandal, with nearly six years counted from previous incarcerations in the and .
Prosecutors detailed how Chang and others diverted over $200 million from loans intended for Mozambique's maritime projects, leading to significant financial losses for U.S. and other investors.
Impact and Defense Arguments
The scandal, revealing a $2 billion "hidden debt," plunged Mozambique into a financial crisis, affecting nearly 2 million people and causing severe economic setbacks.
Chang's defense argued for no additional prison time, citing his minor role and the returned ill-gotten gains, while prosecutors emphasized the significant harm caused to Mozambique and its people.