Upcoming Events

International | Crime and Justice

no events match your query!

New Events

International

no events posted in last week

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Reforming the EU ? Like waiting for Godot! Thu Oct 22, 2020 12:26 | amarynth
By Francis Lee for the Saker Blog There is a human tendency to cling on to cherished beliefs even in the face of overwhelming evidence to the contrary. There was

offsite link Phoenix and the rebirth of evil Part II: Thu Oct 22, 2020 12:10 | amarynth
The cold, reptilian eyes of William Colby By Ken Leslie for the Saker Blog One of the persisting delusions of the modern liberal thought states that the humanity has succeeded

offsite link ?North Korea Rising? Interpreting Pyongyang?s Strategic Position After its Groundbreaking Military P... Wed Oct 21, 2020 20:21 | amarynth
By A.B. Abrams for the Saker Blog Marking the 75th anniversary of the foundation of the Korean Workers? Party, today the oldest ruling party in the world, a major military

offsite link Iron Curtain still separates Russia and the EU Wed Oct 21, 2020 18:13 | amarynth
by Pepe Escobar with permission and first posted at Asia Times Sergey Lavrov, Russia?s Foreign Minister, is the world?s foremost diplomat. The son of an Armenian father and a Russian

offsite link Armenian Forces Use Their Last Chance To Turn Tide Of War With Azerbaijan Wed Oct 21, 2020 12:37 | amarynth
South Front The Azerbaijani Armed Forces have been developing their advance on Armenian positions in the contested Nagorno-Karabakh region. On October 19, they captured 13 more villages in the Jabrayil

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link A Woulfe in judges clothing

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

offsite link Irish Examiner bias Anthony

offsite link RTE: Propaganda ambush of Sinn Fein Anthony

Public Inquiry >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

Mozambique Charges Former President's Son, Officials for Secret Debt Scandal

category international | crime and justice | press release author Friday August 09, 2019 22:02author by Kate Zeller Report this post to the editors

Mozambique charged the former president's son and 19 others on corruption, fraud and blackmail in relation to a $2 billion dollar loan scandal.

Washington DC - Mozambique charged the former president's son and 19 others on corruption, fraud and blackmail in relation to a $2 billion dollar loan scandal.

“Some of the world's poorest people are the victims of the Mozambique debt scandal,” noted United Nations corruption and finance expert Eric LeCompte and Executive Director of the religious development group, Jubilee USA Network. “This behavior is only possible because of a lack of global loan transparency and a lack of public budget transparency in Mozambique.”

In July, former Credit Suisse banker Andrew Pearse pled guilty in US Federal Court for accepting millions of dollars in a fraud scheme that led to the $2 billion Mozambique loan scandal and debt crisis in the East African country. Pearse and six others are accused of taking $200 million in kickbacks. US prosecutors argue that Credit Suisse and Russian-based VTB finance group hid secret loans by bribing bank and government officials. The loans were supposed to support the tuna fishing industry, but instead supported the outfitting of boats as military attack crafts.

Both the US and Mozambique governments also seek to prosecute and extradite former Mozambique finance minister Manuel Chang, currently detained in South Africa.

"The International community must implement standards on public budget transparency and responsible lending and borrowing to prevent future corruption,” said LeCompte. “The people of Mozambique struggle to recover from endemic corruption, a debt crisis and horrific natural disasters."

This year, the southeast African country was hit with two destructive cyclones.

Related Link: https://www.jubileeusa.org/mozambique_charges_on_secret_debt_scandal
© 2001-2020 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy