Former Mozambique finance minister Manuel Chang will be released from a US federal prison on 26 March and deported to Mozambique after serving a reduced sentence in the country’s “hidden debts” scandal, a New York court confirmed.
Chang, 70, was sentenced in January 2025 to 102 months for conspiracy to commit wire fraud and money laundering in connection with the $2.7 billion loan scheme that plunged Mozambique into financial crisis.
His sentence was shortened through credits for time served in pre-trial detention and good behaviour, leaving him with little more than a year behind bars in the US.
He had sought early release on health grounds, citing kidney problems and hypertension, but a New York judge rejected the request last month, ruling that prison authorities were adequately monitoring his condition.
Chang was arrested in South Africa in December 2018 and spent six years in custody before being extradited to the United States in 2023.
Prosecutors accused him of accepting $7 million in bribes and signing sovereign guarantees that enabled three state-owned companies to secretly borrow billions from international banks between 2013 and 2016.
The loans were ostensibly for a tuna fleet, shipyard and coastal security projects, but much of the money was diverted by bankers and officials.
The scandal, uncovered in 2016, triggered a debt crisis in Mozambique, derailed its economic growth and led to years of litigation and settlements with creditors.
Chang denied wrongdoing, insisting he acted on government instructions and received no personal kickbacks.
AP