In a significant development, London’s High Court has ruled in favor of the Republic of Mozambique, awarding over two billion dollars against a United Arab Emirate-based institution for its involvement in the fraudulent ‘Tuna Bonds’ deal. This scandal had previously caused severe financial distress for Mozambique.
Justice Robin Knowles concluded on Monday that allegations of bribery and corruption, made by Mozambique’s Attorney General against the Gulf-based shipbuilder Privinvest Group and its owner, the late Iskandar Safa, were largely substantiated.
Mozambique has emerged victorious as Justice Robin Knowles finds allegations of bribery and corruption were largely substantiated. For more details, refer to the original article.