Manuel Chang, the former Finance Minister, was extradited from South Africa on Wednesday morning (12) into the custody of the US justice system. He is answering questions about his involvement in defrauding the Mozambican state of more than 2.7 billion dollars. He is charged with three crimes, namely conspiracy to commit wire fraud, securities fraud and money laundering.

Manuel Chang allegedly received five million US dollars in bribes. He facilitated the laundering of 200 million dollars in money channeled to Mozambican officials.

He arrived in the US on Wednesday night. On Thursday (13), before District Judge Nicholas Garaufis in Brooklyn, Chang pleaded not guilty to the charges. The former minister's plea opened the way for a trial that will seek to prove his influence and participation in defrauding Mozambique. The scheme included loans to three front companies, namely Ematum, Mozambique Asse Management and ProIndicus.

In this context, according to the BloombergIf Manuel Chang is found guilty of the crimes he is accused of, he could be sentenced to up to 55 years in prison.

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"It's interesting that the money he received from Privinvest is about five million dollars. That would be 11 years in jail for every million dollars," noted the journalist from Bloomberg in Mozambique and CIP researcher, Borges Nhamire.

All told, if he is sentenced to those years in prison, Manuel Chang, who will turn 68 on August 22, will leave prison, if alive, at the age of 123.

In 2021, Credit Suisse paid around 475 million dollars to settle multiple investigations into its role in the scandal, one of several major legal and financial setbacks the Swiss bank faced in the years leading up to its collapse in March.

Meanwhile, a unit of Credit Suisse and three former bankers have also pleaded guilty to charges in the same case brought against Chang.

Last month, Chang's lawyer, Adam Ford, told Garaufis that he would ask for the charges to be dropped, arguing that the government took too long to bring him to trial. He also argued that the case should be dropped because Chang has been held in "appalling conditions" in solitary confinement in a South African prison.

The current case against Chang is US v. Chang, 18-cr-00681, US District Court, Eastern District of New York (Brooklyn).