Ex-Mozambique Finance Minister Convicted in $2 Billion Fraud Case

A former Mozambique finance minister, Manuel Chang, was found guilty on U.S. criminal charges. The charges are related to his involvement in a $2 billion fraud involving loans given to three state-owned companies to support Mozambique's fishing industry.

A former Mozambique finance minister was convicted on Thursday on U.S. criminal charges over his alleged involvement in a fraud involving $2 billion in loans to three state-owned companies to develop the African nation's fishing industry.

Jurors found Manuel Chang guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering in the "tuna bonds" case, following a three-week trial in federal court in Brooklyn, New York.

(With inputs from agencies.)