Isabel dos Santos Made Billions Through Looting Her Own Country, Says ICIJ
Updated: Jan 21, 2020
According to the contents of damning leaked documents called Luanda Leaks published on January 19, 2020 by the International Consortium of Investigative Journalists (ICIJ), Isabel dos Santos, daughter of Angola's ex-president José Eduardo dos Santos, made the bulk of her massive over $2 billion wealth through looting her own country.
More specifically, the documents show, among others, that Isabel dos Santos used her status as daughter of ex-president José Eduardo dos Santos, to amass most of her wealth through unscrupulous deals in crude oil, diamonds, and telecommunications; as well as diversion of funds from public firms to herself, and compulsory acquisition of land belonging to the poor, for her real estate development projects. Compulsory acquisition of land from the poor is said to have been authorized by decrees issued by her father. Affected poor families were forced to relocate and made homeless.
Also, the ICIJ documents reveal that some Western companies and individual advisers assisted Isabel dos Santos in looting her own country.
The ICIJ leaked documents support allegations of corruption and embezzlement of public funds against Isabel dos Santos by the government of Angola. The documents strongly suggest Isabel dos Santos could not have been able to make the fortune she currently has, had she not been the daughter of ex-president José Eduardo dos Santos.
Notwithstanding, however, the so called Africa's richest woman is said to have dismissed the ICIJ documents as witch hunt, saying she made her fortune through hard work!
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