The Supreme Court of Justice of Angola has ordered the preventive seizure of Isabel dos Santos’ assets worth $1 billion. The Supreme Court granted the plea of the Public Ministry, which is investigating the businesswoman, daughter of the country’s former president, José Eduardo dos Santos.
The Angolan court ruled that all current and term bank accounts, securities, and other financial applications under the defendant’s name in all banking institutions should be seized.
The document from the Angolan Supreme Court, sighted, states that “all balances of bank accounts of demand deposits titled or co-titled (or where he appears as an attorney-in-fact and/or authorized), headquartered in all banking institutions, including time deposit accounts, other financial investments that are associated with those, and including title dossiers on behalf of the defendant Isabel dos José dos Santos.”
The Supreme also decided to seize Isabel dos Santos’ shareholdings in several companies inside and outside Angola. This is the case of the 70 percent stake it holds in Upstar Comunicações, a company based in Évora dedicated to providing satellite services, as well as the 70 percent stake in MSTAR, a telecommunications company in Mozambique.
The court order also covers all of the capital of Embalvidro, Unitel Internacional Holding BV and Unitel International BV, as well as all of the shares in Unitel T+ in Cape Verde and Unitel STP, SARL in São Tomé and Príncipe.
According to the document, in addition to the billions of dollars “which correspond to the value of the amounts that the defendants have illegally appropriated”, “a damage in the amount of 1,126 billion dollars” was also determined in the context of other criminal proceedings. .
At stake are indications of the crime of “embezzlement, influence peddling, economic participation in business and money laundering, foreseen and punishable”.
In November, the Attorney General of the Republic of Angola promised to proceed with the process against Isabel dos Santos, even if the businesswoman does not make statements.
