African Richest Women Treasure, Isabela dos Santos Seized the Court

The general prosecutor of Angola on Tuesday (31/12) said, the bank account belonging to Isabel dos Santos, daughter of the former ruler of Angola, Jose Eduardo dos Santos, is frozen in accordance with the court order.

The court acted in an investigation of cases of corruption and irregularities involving state enterprises, including Sonangol’s giant oil and a diamond company, Sodiam, who ran Isabel dos Santos.

“The state through his company has transferred a large number of foreign currencies to companies abroad, and the recipients of the funds are defendants, but they never return it again to the state ” Court said in its verdict December 23rd.

“The defendants acknowledged the existence of the debt, but stated they did not have the means to pay,” so it is mentioned further.

Corruption “The Princess” Isabela dos Santos

Isabela dos Santos, who is touted as the richest woman in Africa, was the daughter of Jose Eduardo dos Santos who ruled in Angola nearly 30 years, from 1979 to 2017.

Isabela and her husband Sindika Dokolo were being investigated in a corruption case of more than a billion US dollars. In addition to bank accounts, the courts also freeze their holdings in some Angolan companies. Because of his football as a member of the presidential family, Isabela was also nicknamed “the Princess”.

Isabela Dos Santos amassed a lot of money through shares in the major companies of Angola, including banks and telecommunications companies Unitel. He also headed the Sonangol oil Company – which was the spearhead of the Angolan economy that depended on oil exports — before being fired by his father’s successor, President Joao Lourenço shortly after he had ascended the post in 2017.

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The court document states that the couple, along with Mario da Silva, chairman of the Banco de Fomento Angola (BFA), the second largest private bank in the African country, has led to a state loss of more than 1 billion US dollars.

Hunting State Money

The court order said that the central bank would ensure that no funds left a private bank account of three suspects.

President Joao Lourenço ended the power of Jose Eduardo dos Santos for nearly 40 years in 2017. He has since attempted to restrict the influence of former Angolan ruling dynasties, and to restore lost state assets.

Former President Jose Eduardo dos Santos accused the new administration of “oppression ” against his family. Isabel Dos Santos and her family left Angola to Europe in 2017 for a reason, she faced a threat of murder. He previously denied making mistakes as long as his father served as president.

Despite the large reserves of oil, gas and minerals, the majority of the population of Angola lives in poverty and continues to depend on the agricultural sector to meet its own needs.