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Claim review. Bribery

Supported

The cited record supports the material proposition.

The US Department of Justice said a federal jury convicted former Mozambique finance minister Manuel Chang in August 2024 and named Privinvest Group executives as co-conspirators who paid bribes.

About
Privinvest Group
Claim made by
US Attorney's Office, Eastern District of New York, regulator statement
Published
8 August 2024
Original
Former Finance Minister of Mozambique Convicted of Fraud and Money Laundering in $2 Billion Scheme
Evidence score
92 How it was scored
Last reviewed
25 October 2026

Why this label

The DOJ release states Chang was convicted on 8 August 2024 of conspiracy to commit wire fraud and conspiracy to commit money launderingS1. It names executives of Privinvest Group as co-conspirators and says Privinvest used more than US$150 million to bribe Chang and other officialsS1. It says Chang received US$7 million in bribes for signing the state guaranteesS1. On 17 January 2025 the court sentenced him to 102 months and ordered US$7 million in forfeitureS2. The conviction and sentence are on the record. His custody status later changed. Plataforma reports he left US custody in late March 2026 ahead of return to MozambiqueS10. The conviction stands.

Current procedural position

Convicted by an EDNY jury on 8 August 2024 and sentenced to 102 months on 17 January 2025, with US$7 million forfeiture orderedS1S2. Released from US custody by late March 2026 ahead of return to MozambiqueS10.

Record supporting the assessment

more than $150 million that Privinvest used to bribe Chang and other Mozambican government officials
S1 Tier A US Attorney's Office, Eastern District of New York, Former Finance Minister of Mozambique Convicted of Fraud and Money Laundering in $2 Billion Scheme, 8 August 2024
$7 million in bribes in exchange for signing guarantees on behalf of the Republic of Mozambique
S1 Tier A US Attorney's Office, Eastern District of New York, Former Finance Minister of Mozambique Convicted of Fraud and Money Laundering in $2 Billion Scheme, 8 August 2024
to a term of imprisonment of 102 months
S2 Tier A US Attorney's Office, Eastern District of New York, Former Finance Minister of Mozambique Sentenced to 102 Months' Imprisonment for His Role in $2 Billion Scheme, 17 January 2025

Conflicting or limiting record

No record located that conflicts with this assessment.

Evidence score: 92 of 100

The score grades how well the record establishes this assessment. It is not a score of Privinvest Group. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.

ComponentPointsMaxReason
Source authorityIs the source competent to establish the proposition?2930DOJ releases on a jury conviction and a sentencing are competent records.
DirectnessDoes the source state the proposition or only discuss adjacent facts?1920The releases state the conviction, the Privinvest role and the sentence directly.
CorroborationDo independent records support the same material point?1215The UK judgment and press records of the same scheme agreeS4S7.
Procedural accuracyDoes the record settle the procedural state the claim describes?1415A jury conviction and a sentence are settled, forfeiture ordered.
CurrencyHas the record been checked against later developments?910Checked against the March 2026 release reportS10.
ReproducibilityCan a reader locate the passage and repeat the assessment?910Both DOJ releases are public.
Total92100

Timeline

  1. EDNY jury convicts Chang on both conspiracy countsS1
  2. Chang sentenced to 102 months with US$7 million forfeitureS2
  3. Chang leaves US custody ahead of return to MozambiqueS10

Related cases

  • United States v. Jean Boustani, Manuel Chang and othersUS District Court for the Eastern District of New York. Criminal. 18-CR-681 (EDNY).Stage: Boustani acquitted in 2019. Chang convicted in 2024 and sentenced in 2025. Outcomes differ per defendant
    • Jury convicts Manuel Chang on both conspiracy countsS1
    • Chang sentenced to 102 months with US$7 million forfeitureS2

Revision history

  • Assessment first published with label Supported.

Have a record that changes this assessment? See corrections and responses.

Sources

  1. S1Tier A Former Finance Minister of Mozambique Convicted of Fraud and Money Laundering in $2 Billion SchemeUS Attorney's Office, Eastern District of New York. Regulator press release. 8 August 2024.Supports Chang's conviction, the Privinvest role and the bribe figures. It does not convict the company or Boustani.
  2. S2Tier A Former Finance Minister of Mozambique Sentenced to 102 Months' Imprisonment for His Role in $2 Billion SchemeUS Attorney's Office, Eastern District of New York. Regulator press release. 17 January 2025.Supports the 102 month sentence and the US$7 million forfeiture. Restitution was left for a later date.
  3. S4Tier A The Republic of Mozambique v Credit Suisse International and others [2024] EWHC 1957 (Comm)High Court of Justice, Commercial Court (National Archives). Court judgment. 29 July 2024.Records payments by Privinvest Shipbuilding SAL accepted by the group and Safa, and Safa's death after trial. We did not read every concluding paragraph.Link working, checked 25 October 2026
  4. S7Tier C UPDATE 1-Mozambique 'substantially' wins UK lawsuit against Privinvest over 'tuna bond' scandalReuters (via CNBC Africa), reporter Sam Tobin. Press report. 29 July 2024.Reports the just over US$825 million award against Safa and Privinvest and the group's denial. Press colour, not the primary record.
  5. S10Tier C Mozambique's former finance minister released from US prisonPlataforma (citing Lusa). Press report. 30 March 2026.Reports Chang left US custody by late March 2026 ahead of return to Mozambique. Press report on custody status, not the conviction.

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