On 14 August, the Daily Mail reported that Angola’s Supreme Court has handed a 5-year jail sentence to Jose Filomeno dos Santos, 42, aka “Zenu”, the son of the oil-rich country’s former president, for fraud when he headed the national sovereign wealth fund.  He faced allegations he tried to embezzle up to $1.5 billion from the sovereign wealth fund, which he oversaw from 2013 to 2018.  3 co-defendants, including the former governor of the national bank of Angola (BNA) Valter Filipe da Silva, were sentenced to between 4 and 6 years in prison for fraud, embezzlement and influence peddling. However, all 4 were acquitted of money-laundering charges.

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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