Former Mozambique finance minister Manuel Chang has been denied bail by a US federal judge while awaiting trial for fraud in the infamous "tuna bond" scandal. The scandal led to the African nation's bankruptcy and Credit Suisse paying approximately $500 million in penalties. Chang, who had been imprisoned in South Africa for almost five years awaiting extradition, was deemed a flight risk by the judge. The charges relate to an alleged conspiracy to loot hundreds of millions of dollars from $2 billion worth of loans arranged for maritime projects, including a fleet of tuna fishing boats.

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