The trial of the son of former Angolan president Jose Eduardo dos Santos for allegedly trying to steal $1.5 billion from the country’s sovereign wealth fund will start on September 25, a court said Saturday.
This is the first time that a member of the former president’s family, which controlled the oil-rich southern African nation for nearly four decades, will be in the dock. Jose Filomeno dos Santos was arrested last year for allegedly attempting to embezzle Angola’s sovereign wealth fund, which he headed during his father’s presidency.The co-accused who will also go on trial include former central bank governor Valter Filipe da Silva and two others.Zenu was appointed head of the $5 billion fund in 2013, 34 years into his father’s reign.
The current Angolan president Joao Lourenco, who came to power in September 2017, fired him in January 2018.Strategic sectors of the economy were awarded to his close allies — including the state oil giant which was placed in the hands of his daughter Isabel. Despite extensive oil, gas and mineral reserves, the majority of Angolans live in poverty and continue to rely on subsistence agriculture.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GuardianNigeria - 🏆 1. / 94 Read more »