Mozambique’s Former Finance Minister Imprisoned for Role in Scandalous ‘Tuna Affair’

Manuel Chang, the former finance minister of Mozambique, has been sentenced to eight and a half years in prison for his role in a multibillion-dollar fraud scheme. The U.S. District Court in Brooklyn issued the sentence on January 18, 2025, after Chang was found guilty of wire fraud and money laundering, which involved defrauding international investors of approximately $2 billion.

Chang, 69, was accused of conspiring to commit fraud through an international scheme that misappropriated funds intended for maritime projects in Mozambique. He allegedly accepted $7 million in bribes while signing loan guarantees without the necessary approval from the country’s Parliament. The loans were aimed at developing shipyards and tuna fishing projects, but instead resulted in significant financial losses for investors.

During the four-week trial, Judge Nicholas G. Garaufis emphasized the severity of Chang’s actions, stating that his misconduct betrayed the people of Mozambique and defrauded numerous investors, including those from the united states. Prosecutors highlighted that Chang’s actions were not only illegal but also detrimental to the economic stability of Mozambique.

In addition to his prison sentence, Chang is required to pay restitution to his victims, with the exact amount to be determined later. This case is part of broader efforts by U.S. authorities to address international financial crimes and hold accountable those who exploit their positions for personal gain.

The sentencing of Manuel Chang underscores the serious consequences of financial misconduct and the commitment of U.S. prosecutors to pursue justice for victims of fraud. This case serves as a reminder of the need for transparency and accountability in financial dealings, particularly in international contexts.