Former Mozambique finance minister loses last appeal, set for extradition to US over $2B scandal

JOHANNESBURG (AP) — Mozambique’s former finance minister has lost a last-ditch legal appeal in South Africa and faces extradition to the United States over a $2 billion corruption scandal related to loans to Mozambican state-owned companies. U.S. prosecutors allege that Manuel Chang, Mozambique’s finance minister from 2005 to 2015, was involved in a scheme that ultimately defrauded American and international investors. It’s alleged the huge sums lent by international banks and guaranteed by the Mozambique government for a series of maritime projects disappeared in bribes, kickbacks and other illegal payments. Chang is accused of receiving about $17 million and was indicted in the Eastern District Court of New York in 2018.