A U.S. federal judge ruled that Mozambique’s former finance minister, Manuel Chang, must remain behind bars while awaiting trial for fraud in the notorious “tuna bond” scandal which helped bankrupt the African nation and lead Credit Suisse to pay about half a billion dollars in criminal and civil penalties.Chang, who looked frail walking into court Thursday afternoon in Brooklyn, hoped to be out on bail after being imprisoned for nearly five years in South Africa while awaiting extradition.Judge Nicholas Garaufis denied the defendant’s request for bail, deeming Chang a flight risk. “He could still present himself to the Mozambique Mission to the UN on 55th Street in Manhattan and they could choose to harbor him and return him to Mozambique if they chose, right?” the judge asked Chang’s lawyer, Adam Ford.Ford answered “yes,” but proposed Chang wear a “GPS ankle bracelet” and agree to remain in Brooklyn, thus preventing him from entering the Mozambique Mission in Manhattan. In addition, his client would post a $1 million personal recognizance bond, secured by $100,000 cash, and surrender his passport.Prosecutor Hiral Mehta argued Chang was a flight risk because he has no ties to the United States, faces as many as 55 years in prison if convicted, and is financially well off after allegedly receiving $5 million in bribes. Chang’s lawyers disputed that, saying that although Chang does have $2 million in Mozambique, those funds are frozen. “He has no access to that money,” Ford told the judge. Garaufis remained unconvinced and ruled “the application for bail is denied.” CNBC.com