Featured Angola

Angola seizes assets of allies of former president Dos Santos

Angolan prosecutors have seized assets belonging to two of former President Jose Eduardo dos Santos’s closest aides, the latest step in a crackdown on corruption in the southern African country. Assets including a brewery and a vehicle assembly plant held by general Manuel Helder Vieira Dias, known as Kopelipa, and… Read More

Kenya ranked highly in ‘dirty’ money business – UN report

The latest UNCTAD report titled Economic Development in Africa Report 2020 ranked Kenya at position 24 globally among countries that record high illicit financial flows. The report was presented by Secretary General of UNCTAD Mukhisa Kituyi at the end of September 2020. This places Kenya ahead of Nigeria (34),… Read More

Portuguese regulator calls for criminal prosecution of auditors following Luanda Leaks

Portuguese auditing companies that broke anti-money laundering laws while helping Angolan billionaire Isabel dos Santos grow her business empire should face criminal prosecution, the country’s regulator has said. The Securities Market Commission, CMVM in Portuguese, investigated nine auditing companies that worked with dos Santos following the publication of the Luanda… Read More
24th September 2020
Swiss financial market supervisor FINMA on Thursday reprimanded private Bank SYZ over money laundering rules breaches involving business ties with a politically exposed Angolan client who made transactions worth tens of millions of Swiss francs. “FINMA found that the bank did not make sufficient efforts to investigate the substantial growth… Read More
17th September 2020
Dutch prosecutors have begun a criminal investigation into how a company owned by Sindika Dokolo, the husband of billionaire Angolan businesswoman Isabel dos Santos, managed to acquire a lucrative shareholding in the Portuguese oil and gas firm, Galp. The Public Prosecution Service has also frozen the assets of the company,… Read More
10th September 2020
Angola’s attorney general has seized buildings and hotels belonging to AAA, a company associated with Carlos Manuel de São Vicente whose $900 million fortune has been frozen by Swiss authorities, state broadcaster TPA reported on Tuesday. De São Vicente was a key figure in Angola’s oil industry, heading a group… Read More
10th September 2020
A whistleblower who exposed massive bribery at a Monaco-based oil firm is now being hunted in Europe, in a test of its extradition system. Jonathan Taylor, back in 2013, revealed that his former employer, SBM Offshore, had routinely paid bribes to foreign governments, for instance in Angola, Brazil, and Equatorial… Read More
31st August 2020
Swiss authorities have frozen nearly $900 million belonging to an Angolan business executive with ties to successive presidential regimes, according to newly released court documents. Switzerland’s public prosecutors froze seven accounts of Carlos Manuel de São Vicente and family members in December 2018 on suspicions of money laundering, according… Read More
17th August 2020
Angola’s Supreme Court convicted the son of the former president and the former governor of the central bank of embezzling $500 million from the country’s central bank in 2017. José Filomeno dos Santos was sentenced to five years in prison Friday for participating in a convoluted plot to defraud… Read More
22nd July 2020
The European Banking Authority will probe revelations contained in Luanda Leaks, an investigation led by the International Consortium of Investigative Journalists (ICIJ) into how billionaire businesswoman Isabel dos Santos made her fortune. Confirmation of the probe follows a demand by the European Parliament for the regulator to assess… Read More
15th July 2020
An Angolan court has labeled a deal between the African country’s diamond company and Isabel dos Santos’ husband as “fraudulent” and harmful to average Angolans, according to a newly released decision. The 44-page ruling by the Provincial Court of Luanda, released publicly earlier this month, prevents Banco BIC, partly… Read More
8th July 2020
Isabel dos Santos, who is accused of causing billions of dollars in losses to the Angolan government during her father’s 38-year rule, said she is available to cooperate with authorities to clear her name and find out the truth. “What I want to resolve as quickly as possible are the… Read More
13th May 2020
Angolan billionaire Isabel dos Santos called on Tuesday for a corruption case against her to be dropped, accusing Angolan authorities of using forged documents including a bogus passport to get courts to seize her assets. Angolan authorities seized the accounts of dos Santos and her husband Sindika Dokolo late last… Read More