Mozambique’s Debt Scam: Former Intelligence Director Arrested

February 15, 2019 | Brainwave Science

 

Mozambique’s Debt Scam: Former Intelligence Director Arrested: Brainwave Science

SITUATION

Mozambique’s Debt Scandal has taken a new turn. Antonio Carlos do Rosario, former director of Mozambique’s intelligence unit, was arrested alongside Teofilo Nhangumele, the chairman of state-run Proindicus, Ematum and Mozambique Asset Management, the police source said. At the heart of the debt scandal in Mozambique are the government officials who contracted secret loans from the London branches of banks Credit Suisse and Russia’s VTB bank. The $2 billion of loans were given in 2013 but mostly did not come to light until 2016. The loans were guaranteed by then Finance Minister Manuel Chang but were not approved by the Mozambique parliament. Following that FBI started an investigation on European Banks for Allegedly Aiding Corruption in Mozambique.

Five people, including the ex-head of Mozambique’s intelligence services and the chairman of three firms linked to the country’s $2bn debt scandal, have been arrested in Mozambique. “Acting on the order of the Attorney General’s Office… we made the arrests of five people,” the police source told Reuters by phone, without giving the reason for the arrests. “I cannot give you further details,” he said.

The US had asked South Africa to provisionally arrest Chang over his alleged involvement in financial crimes totaling $2bn (R27.8bn). Chang was detained at OR Tambo International Airport on December 29, 2018, while he was making his way to Dubai. The former finance minister will now have to wait to hear whether he will be extradited to the US when he returns to court on February 26. With a colorful group of actors getting arrested in this case with charges ranging from conspiracy to commit wire fraud, securities fraud and money laundering the case has unfolded a new twist with the most recent arrest.

CHALLENGE

What is the price that Mozambique has to pay for the widespread corruption in the country? What are the costs of corruption for the Mozambican economy, the state, and its people? -The majority of Mozambicans want a corruption-free society, but they are tied hand and foot by a system that a few, very influential, individuals benefit from, says Jan Isaksen, senior researcher at the Chr. Michelsen Institute (CMI).

Poverty and Corruption are interlinked, and such dire circumstances are feeding grounds for public unrest, crime, and more corruption. This becomes a vicious unending cycle. Despite two decades of experience in attempting to address corruption through development aid policy and practice, the best means of tackling various corruption challenges is still contested. Recent meta-studies focused on anti-corruption effectiveness suggest that solutions must fit specific contextual circumstances and that answers to developing country corruption problems may be both within and outside the countries themselves. Financial corruption at such an international level with crimes involving such high-profile players are always a challenge to address.

Especially when those accused include three former Credit Suisse Bankers, employees of state-run companies, former finance minister of Mozambique and most recently Mozambique’s ex-intelligence head. The chain of corruption and crime has been suspected to have links all the way to ex-private secretary to former president Armando Guebuza. It is a challenge when those who are entrusted to govern themselves become robbers looting the land and the citizens they pledged to represent and protect. Fortunately, anti-corruption laws do not end at the border. Dozens of countries have made it a criminal offense to bribe foreign public officials.

WHY ICOGNATIVE?

Good governance is essential for all countries around the world today. When it doesn’t exist, many governments fail to deliver public services effectively, health and education services are often substandard and corruption persists in rich and poor countries alike, choking opportunity and growth. It is impossible to address other problems that exist in a country like poverty and crime in absence of methods and will to reduce corruption and emphasize the importance of good governance. But this is not a hopeless situation. In fact, a new wave of progress with technological evolutions of today makes it possible to combat all forms of crimes including financial crimes and corruption, the ones most difficult to prosecute due to lack of will and evidence. A technology that promises 100% crime clearance rates and supports transparency, accountability, and citizen empowerment has finally arrived. It is called iCognative by Brainwave Science.  Launched to serve law enforcement forces in cases related to national security, counter-terrorism, money laundering, financial crimes, cybersecurity, trafficking, border security, immigration including any and all civil and criminal cases even when evidence is not available.

This unbeatable iCognative technology is easy to use, exceptionally accurate (nearly 100%) and has proven its worth at a global level. To top it all it is extremely competitively priced and can be used at any place, any time and delivers super-fast results in less than an hour per suspect.

In the case of Mozambique debt scandal and the wide spectrum of suspects, the iCognative test is a go-to technology to get to the bottom of the case.  All the suspects, in this case, can be subjected to this test as it is completely non-invasive and supports human rights. Investigation details related to the case collected so far can very well serve as a treasure trove for conducting a iCognative test. Details including level of involvement of Antonio Carlos do Rosario, former director of Mozambique’s intelligence unit, when did he know what and what was the relationship between Finance Minister Manuel Chang and State-run enterprises, details about the payments made and the monies paid as a part of corrupt practices, audit information report that concluded missing $500 million, contacts that were used to launder money, names of shell companies that may be involved, details about co-conspirators and all in the government who worked to support this scandal can all be used to conduct a iCognative test. During a iCognative test, the system will flash this stimulus (Case related known and undisclosed information in form of words, phrases or pictures) to all suspects in a random fashion, collect brain responses of all suspects. Once this is done it will analyze and give final result objectively regarding whether the suspect’s brain has confidential information with over 99% accuracy. It can be easily concluded if the crime-related information is present or absent in the brain of the suspect. iCognative test has no false positives and therefore unlike lie-detector or polygraph test innocent people who might otherwise be caught in such complex cases have nothing to fear.

iCognative technology by Brainwave Science is ready to support effective law enforcement that is essential to ensure the corrupt are punished and break the cycle of impunity, or freedom from punishment or loss.  A revolutionary technology like iCognative has an instrumental role to play in the eradication of corruption and financial crimes at a global scale and ensure transparency in government organizations.

Source: Reuters

Image Source: The Zimbabwe Mail