• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
Mozambique: Ex-President’s Son, 2 Ex-Spy Bosses Jailed Over Corruption Scandal

Mozambique: Ex-President’s Son, 2 Ex-Spy Bosses Jailed Over Corruption Scandal

3 years ago
UN Secretary-General Pushes for Permanent African Seat on Security Council

UN Peacekeepers Escape Attack In Southern Lebanon

9 minutes ago
Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

1 hour ago
Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

2 hours ago
US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

4 hours ago
Kenya: Man Arrested Over Social Media Post Dies In Custody

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

5 hours ago
Tuesday, June 10, 2025
  • About
  • Privacy Policy
Heritage Times
No Result
View All Result
Translate |
  • Login
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    Cameroon: Police Lay Siege At Opposition Leader’s Home

    Cameroon: Police Lay Siege At Opposition Leader’s Home

    At Tanzania Summit, African Leaders Call For End To DRC Conflict

    Rwanda Exits Central African Regional Bloc Over Row With DRC

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    SA: Top Official Of Jacob Zuma’s Party Sacked After Visiting Malawian Pastor Accused Of Fraud

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Mongolia: After Weeks Of Demonstrations Over Family Lavish Lifestyles, PM Resigns

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Poland: Conservative Opposition Candidate Wins Presidential Election In Tight Race

    Sudan’s New Prime Minister Disbands Caretaker Government

    Sudan’s New Prime Minister Disbands Caretaker Government

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Ivory Coast: Opposition Coalition Insists On Electoral Reforms Ahead Of Polls

    Tanzania: Lawyers Seek UN Intervention Over Detention Of Opposition Leader

    Heritage Times Congratulates Dr. Sidi Ould Tah As President-Elect Of AfDB 

  • Economy
    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

    Binance

    After His Ordeal In Nigeria, Gambaryan Has Quit His Role At Binance

    Elon Musk Loses $34 Billion Amid Clash With Trump

    Elon Musk Loses $34 Billion Amid Clash With Trump

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    World Bank Seeks Stronger, Results-Focused Partnerships For Africa’s Development

    Uganda: Museveni Holds Talks With Elon Musk’s Starlink Executive

    World Bank Lifts Loan Restriction Placed On Uganda Over Anti-Gay Legislation

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    Senegal Moves To Reduce Reliance On Foreign Lenders, Targets Improved IGR

    South Africa's Economy Stalls With 0.1% Growth As Structural Challenges Persist

    South Africa’s Economy Stalls With 0.1% Growth As Structural Challenges Persist

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    UK Civil Servants Who Used AI Saved Two Weeks A Year, Study Shows

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

    Nigerian Govt Warns Popular Car Dealer Against Mocking Civil Servants’ Ability To Afford Luxury Cars

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
First with the News

Mozambique: Ex-President’s Son, 2 Ex-Spy Bosses Jailed Over Corruption Scandal

December 7, 2022
in Top Stories, World
0
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

By Ebi Kesiena

A court in Mozambique on Wednesday sentenced two ex-spy bosses and the son of a former president to 12 years each for their part in a corruption scandal in which the government sought to conceal huge debts, triggering financial havoc.

Relatedreading

UN Peacekeepers Escape Attack In Southern Lebanon

Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

The former head of security and intelligence, Gregorio Leao; the head of the security service’s economic intelligence division, Antonio do Rosario; and ex-president Armando Guebuza’s son Ndambi Guebuza were among 19 defendants accused in the country’s biggest graft scandal.

Eight defendants were acquitted while the rest were handed terms ranging between 10 and 12 years in a verdict that took the judge a week to read out.

“The crimes committed have brought consequences whose effects will last for generations,” said Judge Efigenio Baptista, addressing a packed courtroom located in the grounds of a high-security jail in the capital Maputo.

The 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.

An independent audit found $500 million of the loans had been diverted. The money remains unaccounted for.

Handing down the sentence following after a week of reading the verdicts, Baptista said the scam had “aggravated the impoverishment of thousands of Mozambicans.”

“The country became famous for the worst reasons,” he said. “As high officials of the state they should have been (its) guardians.”

Leao and do Rosario were found guilty of embezzlement and abuse of power, while Guebuza was convicted for embezzlement, money laundering and criminal association, among other charges.

Former President Guebuza, who had been in office when the loans were contracted, testified at the trial. Baptista listed some of the assets acquired by Guebuza’s son using the $33-million bribe he allegedly received.

They included luxury cars and a 10-million rand ($590,000) mansion in neighbouring South Africa.

The trial started in August last year and ran until March. It was broadcast live on local TV and radio stations. In March the IMF awarded $456 million in credit to Mozambique, the first such aid awarded since the debt scandal erupted.

The debt scandal sparked legal cases across three continents and exposed corruption on a global scale. Swiss bank Credit Suisse was fined $475 million last year over its part in issuing the loans.

Around a hundred people, including anti-corruption activists and civil campaigners, sat in the courtroom, a makeshift facility set up in a white marquee to accommodate defendants, their lawyers and other parties.

Former finance minister Manuel Chang who signed off the loans has been held in South Africa since 2018, pending extradition to the US for allegedly using the US financial system to carry out the fraudulent scheme.

Tags: Antonio do RosarioArmando GuebuzabreakingGregorio LeaoHeritageheritage timesheritagetimesmediaJudge Efigenio BaptistalatestNdambi Guebuzanewsthe heritage timesthtthtafricatop stories
ShareTweetSend
Previous Post

Qatar 2022: Croatian Beauty Queen Dubbed ‘Sexiest Fan’ 

Next Post

Nigeria Cancer Society, Project Pinkblue, Visit NASS To Advocate For Increasing Carbonated Beverage Tax

Related Posts

UN Secretary-General Pushes for Permanent African Seat on Security Council

UN Peacekeepers Escape Attack In Southern Lebanon

June 10, 2025
Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

June 10, 2025

Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

Organisers Postpone U20 WAFU Tournament

Next Post
Nigeria Cancer Society, Project Pinkblue, Visit NASS To Advocate For Increasing Carbonated Beverage Tax

Nigeria Cancer Society, Project Pinkblue, Visit NASS To Advocate For Increasing Carbonated Beverage Tax

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2 AfriHeritage Magazine Issue 2

Updates

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
UN Secretary-General Pushes for Permanent African Seat on Security Council

UN Peacekeepers Escape Attack In Southern Lebanon

June 10, 2025
Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

June 10, 2025
Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

June 10, 2025
US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

June 10, 2025
JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia JESIN GAMES - AfriTrivia
ADVERTISEMENT

Most Recent

UN Peacekeepers Escape Attack In Southern Lebanon

June 10, 2025

Tems: Grammy Award Winner To Feature At Inaugural FIFA Club World Cup

June 10, 2025

Zimbabwe Bans Export Of Lithium Used In Battery Manufacturing

June 10, 2025

US Wants Rwandan Troops Out Of DRC To Pave Way For Peace Deal Signing

June 10, 2025

Kenya: Autopsy Result Shows Blogger Was Hit, Tortured To Death

June 10, 2025

Organisers Postpone U20 WAFU Tournament

June 10, 2025

Nigeria’s Rivers Hoopers Crash Out Of Africa Basketball League

June 10, 2025

‘Africa Corps’ Takes Over From Wagner As Russia Keeps Grip On Sahel Region

June 10, 2025

About

Heritage Times HT stands as a beacon of pan-African journalism, dedicated to amplyfing the rich tapestry of voices and narratives across the continent. With unwavering commitment, we illuminate the evocative essence of Africa, offering a fresh perspective that captivates our global audience.

Featured

AfDB Set For A New President, As Ould Tah Gains Continental Endorsement

How Dangote Is Turning Trump’s Trade War Into Africa’s Opportunity

Nigeria @ 64: Meet Young Luminaries Leading Social Transformation

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

  • About
  • Privacy Policy

© 2024 Heritage Times (HT) Media.

No Result
View All Result
  • Welcome
  • Politics
  • Economy
  • Security
  • Exposé
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Columns
    • Opinion
  • World
  • __________________
  • Make a Donation
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact us

© 2024 Heritage Times (HT) Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In