Tuna scandal in Mozambique: President's son on trial for $2 billion

Guebusa, son of former President Armando Guebusa, is being charged with blackmail, extortion and money laundering.

They have not yet commented on these charges, reports the BBC, translates Periscopi.

The largest corruption scandal in Mozambique has led donors to include the International Monetary Fund. [ Footnote] The IMF] has cut funds for the country, which has collapsed the economy.

The trial is being held in a large tent in a maximum security prison on the outskirts of the capital, Maputos.

City courts' halls are considered too small for numerous lawyers, 70 witnesses and 250 journalists who are accredited to participate.

Although President Guebusa is not in office, his party, dubbed Frelimo, has remained in power since the 1975 declaration of independence.

How did the scandal happen?

Between 2013 and 2014, three newly formed companies borrowed $2.2 billion, mostly without the knowledge or approval of the country's parliament. The audience reported missing $500 million.

The Mozambica government had been guarantor of loans, which meant it would pay if things were bad.

The money was allegedly used to buy a large tuna factory and a fleet of coastal security, as well as to finance agreements involving companies in which the state was the largest shareholder.

In 2016 an economic crisis in Mozambique had followed because of this calamity.

The country's currency lost a third of its value, inflation grew and foreign donors left. /Periscope