Mozambique Ex-President’s Son Sentenced To 12-years Imprisonment For Corruption
Ndambi Guebuza, the son of Mozambique’s former President Armando Guebuza, was found guilty on Wednesday, and sentenced to a 12-year prison term for his role in a massive corruption scandal.
The scandal involved the government’s attempt to cover up huge debts, which resulted in the country’s economy collapsing into chaos.
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“The crimes committed have brought consequences whose effects will last for generations,” said Judge Efigenio Baptista, who found Ndambi Guebuza guilty of embezzlement, money laundering, and criminal association in a scandal that arose after state-owned companies in the impoverished country illicitly borrowed $2 billion between 2013 and 2014.
The scandal began when state-owned companies in the poor nation illegally borrowed $2 billion (1.9 billion euros) from international banks in 2013 and 2014 in order to purchase a tuna fishing fleet and surveillance vessels. This led to the country’s economic collapse.
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The loans were kept a secret from both parliament and the general public by the government.
When the so-called “hidden debt” was finally brought to light in 2016, the International Monetary Fund (IMF) and other donors withdrew their financial support, which resulted in a default on the sovereign debt and a collapse of the currency.
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An independent investigation revealed that 500 million dollars worth of the loans had been misappropriated. There is no explanation for where the money went.
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