Lesson for SA: mastermind escapes net in Africa’s big corruption case. FT

The Mozambique tuna bond scandal carries lessons for South Africa, not least of all that it can be very tricky to nail the culprits in major corruption scandals. As the Boustani matter underscores, the masterminds can be highly skilful at keeping their hands clean. Bankers are in deep trouble for handling ill-gotten gains but for technical legal reasons a slippery co-beneficiary is being let off the hook. In South Africa's state capture scandal, it has been common for wives, girlfriends, children and friends to do the dirty work while politicians including former president Jacob Zuma have used their influence to pull the required strings in exchange for financial benefits. – Jackie Cameron

By Thulasizwe Sithole

It was billed as a trial that would extend the long arm of US justice to one of the biggest corruption cases in Africa this decade – the $2bn Mozambique "tuna bond" scandal, reports the Financial Times.

"Over six weeks in a Brooklyn court, US prosecutors argued that Jean Boustani, a lieutenant of Iskandar Safa, the French-Lebanese shipbuilding magnate, was a "mastermind" behind a scheme to siphon $200m of kickbacks from the loans," it says.

Alongside others Mr Boustani "stole from one of the poorest nations on earth and gave to the rich," paying off officials so they would buy "wildly overvalued" boats and maritime surveillance projects from Mr Safa's company, Abu Dhabi-based shipbuilder Privinvest, the US said.

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