Former Finance Minister Manuel Chang is being held in the United States on charges of conspiracy to commit wire fraud and involvement in a money laundering scheme.

The financial default cost the Mozambican state more than 2.7 billion US dollars.

Manuel Chang's trial was scheduled to begin on Monday. And, according to a BloombergThe 68-year-old former leader could be sentenced to 30 years in prison if he is found guilty of the crimes he is accused of.

The former minister, who has pleaded not guilty, has been in US custody since he was extradited a year ago from South Africa, where he was arrested in 2018 at the request of federal prosecutors. US District Judge Nicholas Garaufis ruled that there was a risk that he would flee because the US does not have an extradition treaty with Mozambique.

The former minister's lawyers considered the indictment "extremely flawed in numerous respects," including the fact that "there is simply no conduct in which Mr. Chang is alleged to have engaged that has any connection to the United States," according to a court filing.

In June, prosecutors agreed to drop a charge of conspiracy to commit securities fraud, saying they wanted to simplify their case. The trial is expected to last five weeks, according to the US.