Angolan Court Freezes Isabel dos Santos' Assets
A court in Angola has frozen the assets and bank accounts of the daughert of ex-president Jose Eduardo dos Santos of Angola, Isabel dos Santos (46), over alleged embezzlement of more than $1 billion of public funds. That was reported by various media on January 1, 2020. According to the reports, the freezing of Isabel dos Santos' assets and bank accounts is in a court order issued on December 23, 2019.
Ms Isabel dos Santos said to be the richest woman in Africa, has been living in London since 2018. She has an estimated net worth of $2 billion accruing from wealth she amassed during the period of her father Jose Eduardo dos Santos' rule in Angola of over four decades.
Even earlier in 2019, her brother Jose Filomeno dos Santos was fired as boss of Angola's sovereign wealth fund, over alleged looting of $500 million from the country's central bank and transferring the loot to the UK. He has since been taken to court to answer charges of corruption and embezzlement of public funds.
Angola is said to be one of the most corrupt countries in the world,
with huge income disparity. As such, albeit having massive crude oil revenues, majority of its citizen live in poverty. However, since coming to power in 2017, Jose Eduardo dos Santos' predecessor Joao Lourenco has vowed to tackle corruption in the SADC country.
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