A Mozambican court on Wednesday sentenced the son of Mozambique’s ex-president Armando Guebuza to 12 years in jail.
This is following a vast corruption scandal in which the government unleashed financial havoc by trying to conceal huge debts.“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 $2billion between 2013 and 2014.”READ ALSO: It Will Further Tank Nigeria’s Already Battered Image – Reno Omokri Slams 50 Cents For Wanting To Produce A Series On HushpuppiThe scandal arose after state-owned companies in the impoverished country illicitly borrowed $2 billion (1.9 billion euros) in 2013 and 2014 from international banks to buy a tuna-fishing fleet and surveillance vessels.The government masked the loans from parliament and the public.When the “hidden debt” finally surfaced in 2016, the International Monetary Fund (IMF) and other donors cut off financial support, triggering a sovereign debt default and currency collapse.
Trending video of the day;
