Judge Nicholas Garaufis denied the defendant's request for bail, deeming Manuel Chang a flight risk.
"He could still present himself to the Mozambique Mission to the UN on 55th Street in Manhattan and they could choose to harbor him and return him to Mozambique if they chose, right?," the judge asked Chang's lawyer, Adam Ford.Wikus De Wet | Afp | Getty Images
Judge Nicholas Garaufis denied the defendant's request for bail, deeming Chang a flight risk. "He could still present himself to the Mozambique Mission to the UN on 55Street in Manhattan and they could choose to harbor him and return him to Mozambique if they chose, right?" the judge asked Chang's lawyer, Adam Ford.
Prosecutor Hiral Mehta argued Chang was a flight risk because he has no ties to the United States, faces as many as 55 years in prison if convicted, and is financially well off after allegedly receiving $5 million in bribes. Chang's lawyers disputed that, saying that although Chang does have $2 million in Mozambique, those funds are frozen. "He has no access to that money," Ford told the judge. Garaufis remained unconvinced and ruled "the application for bail is denied.
Prosecutors say Chang received three payments totaling $5 million in exchange for providing a government guarantee from Mozambique on the loans, arranged by Credit Suisse. When the loans defaulted, it led to the country's sovereign debt collapse, devastating the Mozambique economy.
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