A court in Luanda has sentenced the son of former Angolan president José Eduardo dos Santos to five years in prison over a $500m corruption case. José Filomeno dos Santos, the former head of Angola’s $5bn sovereign wealth fund, was found guilty, along with three other defendants, of transferring the money to a Credit Suisse account in London. His trial has been the most high profile case to date under the anti-corruption drive of President Joao Lourenco, who took the helm after dos Santos stepped down in 2017 after a near four-decade grip of power in Africa’s second-biggest oil exporter. Judge Joao Pitra found Dos Santos guilty of fraud, embezzlement and influence trafficking. Valter Filipe, former governor of the National Bank of Angola, was sentenced to eight years in the case. António Samalia Bule, former director of Banco Nacional de Angola, and Jorge Gaudens Sebastião, a businessman and a friend of Dos Santos jnr, got five years and six years respectively.
SOURCE: BUSINESS DAY LIVE
More Stories
Rukky Ladoja & Building a Responsible Nigerian Fashion Brand
How to Write About Africa: Collected Works’ Shows Binyavanga Wainaina’s Legacy
Amapiano to the World: The Next Cultural Shift in Mainstream Music
Feeling at Home at New York’s Contemporary African Art Fair
Mr. Eazi on African Music’s Role in Developing and Stimulating the Creative Economy
8 Lisbon Restaurants for Discovering the City’s African Diaspora
Silversea Cruises’ Extended Indian Ocean Island and Southern Africa Programme
Events Specifically Dedicated to Celebrating Black Music and Culture in Europe
Namibia Offers a Wealth of Experiences for Adventurous Travellers
Top Destinations to Visit in Africa
Establishing Manufacturing Nodes across the Continent and Leveraging on the AfCFTA
The Agritech Innovators Bringing Transformative Change to the Continent’s Green Economy