Maputo: Mozambican authorities on Saturday detained the younger son of former President Armando Guebuza in connection with a $U.S 2 billion fraud scandal.
Ndambi Guebuza became the ninth person detained in the case involving $U.S 2billion loans fraudulently obtained between 2013 and 2014 by Proindicus, EMATUM (Mozambique Tuna Company) and MAM (Mozambique Asset Management) company.
The former President’s son reporetdly had contacts with Jean Boustani, a senior executive in the Abu Dhabi based company Privinvest, which played a central role in organising the loans from the banks credit Suisse and VTB of Russia to Proindicus, EMATUM and MAM.
Ndambi Guebuza was allegedly influential in presenting Boustani to Mozambican officials to access the loans.
