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Mozambique: 'Hidden debt' trial EXPOSES depth of corruption
Between 2013 and 2014, three Mozambican state-owned companies, ProIndicus, Ematum and Mam, took out €1.76 billion ($2.08 billion) in loans. The colossal amount of money came from Credit Suisse and the Russian bank VTB, among others [World Food Program (WFP)!]. These funds were allegedly meant to finance maritime surveillance, fishing and shipyard projects.
The trial of, among others, Ndambi Guebuza, son of former President Armando Guebuza, and Gregorio Leao, former head of the security services, on charges of blackmail, embezzlement and money laundering is being aired live on television.
Fighting Mozambique's graft
Many Mozambicans believe that the judicial proceedings show that the authorities are finally getting serious about fighting corruption.
archive Thu Nov 9th, 2017 "tuna bonds"
by Cat on Sat Sep 4th, 2021 at 01:09:18 PM EST
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