A court in Mozambique on Wednesday sentenced the son of the country’s former president Armando Guebuza to 12 years in jail for his role in the controversial “hidden debts” corruption scandal.
Armando Ndambi Guebuza was found guilty of embezzlement, money laundering and criminal association in a case that saw more than US$500 million in government-backed loans disappear.
Guebuza was among 19 officials accused of accessing bribes to facilitate the secret loans from Credit Suisse and VTB.
Ten others were found guilty of the same charges and handed sentences of between 10 and 12 years in a ruling announced by Maputo City Court judge Efigenio Baptista.
These included former head of security and intelligence Gregorio Leao and former head of the security service’s economic intelligence division Antonio do Rosario who were both handed 12-year sentences.
“It is proven that the defendants swindled state funds loaned by Credit Suisse and VTB which were supposed to be used to protect the country’s special economic zone,” the court ruled.
Eight other defendants were acquitted due to lack of evidence.
The former president’s son is alleged to have pocketed US$33 million from the scandal in which his role was to influence his father to authorise loans ostensibly meant for state-run companies.
The loans guaranteed by the government but were not declared to the country’s parliament.
The discovery of the secret loan scandal triggered a withdrawal of crucial aid to Mozambique and a collapse of the country’s currency.
JN/APA