ANGOLA SEIZES BUILDINGS AND HOTELS BELONGING TO COMPANY ASSOCIATED WITH CARLOS MANUEL DE SÃO VICENTE

On 10 September, Reuters reported that 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 was frozen by Swiss authorities in 2018.  He was a key figure in Angola’s oil industry, heading a group of companies, including AAA Seguros, which sold insurance and reinsurance contracts to state oil company Sonangol. It is reported that AAA holds more than $1.4 billion in assets and owns 86 buildings, including 1 belonging to the IKA hotel chain and 12 to IU hotels. 

https://www.reuters.com/article/angola-corruption/angola-seizes-aaa-assets-hotel-chains-linked-to-de-sao-vicente-tv-reports-idUSL8N2G54WV

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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