For seven months, the Maputo city court met in a tent on the grounds of a prison on the outskirts of the capital.
For this trial, the normal courtroom was not big enough. In the dock were 19 men, some of the country’s most powerful and politically connected figures, charged in connection with their alleged role in the “hidden debt scandal,” one of the biggest fraud cases in African history. .
Under former President Armando Guebuza, the government secretly borrowed $2 billion from international banks. The money was intended to renew the country’s military and fishing patrol boats, with the debt guaranteed by the state. Most of the money disappeared.
This fraud was knowingly facilitated by Swiss bank Credit Suisse, which has been fined by regulators for its criminality. No Credit Suisse executive has faced criminal prosecution, despite the company’s admission of liability.
This week, the court reached its verdict. Judge Efigénio Baptista took five days to read the 1,388 pages of conclusions. Twelve of the 19 were found guilty, including Armando Ndambi Guebuza, the eldest son of the former president.
Guebuza junior was found to have received $33 million to “move influence” with his father and was sentenced to 12 years in prison. He intends to appeal. It is not yet known if his father will also be accused.
The current president, Filipe Nyusi, was defense minister at the time of the hidden debt scandal.
