Former Mozambique finance minister Manuel Chang has been sentenced to eight and a half years in prison and ordered to pay $7 million in forfeiture for his role in a multibillion-dollar fraud scheme that defrauded investors of about $2 billion. Chang conspired to commit wire fraud and money laundering through loans for maritime projects, taking $7 million in bribes. The scheme involved Credit Suisse and other banks arranging loans for Mozambique, resulting in substantial losses for investors, and Chang was arrested in South Africa in 2018 and extradited to the U.S. in 2023.
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News24 | SARU sidesteps PwC findings to discipline CEO Rian Oberholzer in failed Ackerley deal
An investigation into the unsuccessful R1.4-billion Ackerley equity deal has recommended that SA Rugby CEO Rian Oberholzer and head of legal Chantal du Pisani face disciplinary action. However, SARU has received additional legal advice suggesting that they should not be held accountable for the deal's failure. This situation raises questions about the implications of the investigation's findings and the legal counsel's guidance on the matter. Full Article
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