After nearly five years, former Mozambique finance minister Manuel Chang was extradited to the US on Wednesday to face a fraud and corruption trial over a $2 billion scandal involving fraudulent government loans.
Former Mozambique finance minister extradited to the US
Former Mozambican Finance Minister Manuel Chang sits in court in Kempton Park, Johannesburg, South Africa, on Jan. 8, 2019
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AP Photo
Held in South Africa , Chang was finally handed over to US authorities after his last-ditch court effort to avoid extradition failed in May.
Chang is accused of receiving bribes of up to $17 million during a scheme that secured loans for Mozambican state-owned companies from foreign banks and financiers for maritime projects.
According to US prosecutors, the money was looted through kickbacks and other corrupt dealings.
The loans totalling $2 billion were intended for the purchase of fishing vessels and naval patrol boats and other resources to help Mozambique’s fishing industry, but it's alleged that never happened.
The scandal caused a financial crisis in Mozambique when the International Monetary Fund withdrew its support for the country after the so-called "hidden debts" were revealed in 2016 .