December 28, 2022

Court orders seizure of ex-Angolan president’s daughter, Isabel’s assets

Court orders seizure of ex-Angolan president’s daughter, Isabel’s assets

By Biodun Busari

Angola’s Supreme Court has ordered the seizure of assets worth around $1 billion held by Isabel dos Santos, the daughter of the former president of the country.

The court document dated December 19, revealed that authorities had evidence of alleged embezzlement and money laundering, hence ordering the seizure of the money dos Santos holds in “all banking institutions.”

According to Reuters on Wednesday, the seizure described as “preventive” includes all of dos Santos’s shares in Angolan company Embalvidro, as well as 100% of shares in Cape Verde’s telecom company Unitel T+ and Unitel STP in Sao Tome and Principe.

Read also: Mozambique ex-president’s son, others bag 12-yr imprisonment over $2bn scandal

A total of 70% of her shares in Mozambique’s telecom MStar and Upstar Comunicacoes should also be seized, according to Reuters.

Dos Santos has faced corruption accusations for years. In 2019, Angola’s Supreme Court ordered the seizure of her assets for reportedly diverting state funds to companies in which she held stakes during her father’s presidency, including oil giant Sonangol.

Dos Santos’s father, Jose Eduardo dos Santos, died in July. He ruled Angola for almost four decades until 2017.

The court order was issued following Interpol’s issuance of a red notice for dos Santos last month, asking global law enforcement authorities to locate and arrest her.