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Vol 60 No 16

Published 9th August 2019


Mozambique

Guilty plea on conspiracy

The case against the bankers in the $2bn loans scandal has brought confessions, but there are doubts about how deep the trial will go

The United States case against eight defendants accused of fraud and money-laundering in Mozambique's US$2 billion hidden loan scandal has secured two guilty pleas at the Eastern District Court of New York. But fears remain that the complex web of international banking fraud, corruption and greed will end with the punishment of just a handful of individuals for bribery.

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