SON OF ANGOLA'S EX-PRESIDENT CHARGED OF $500 MILLION FRAUD.

Jose Filomeno de Sousa dos Santos is a son of Angolan former president, Jose Eduardo dos Santos who serves as the Chairman of Fundo Soberano de Angola , the country's sovereign wealth fund .He was appointed to the board in 2012 and succeeded Armando Manuel as Chairman in June 2013. In August 2013, dos Santos was ranked at number 26 out of the top 100 wealth fund chiefs in the world. The rankings are an annual measurement process run by The Sovereign Wealth Fund.

Luanda, ANGOLA:

The son of Angola's ex-President José Eduardo dos Santos has been formally accused of fraud over the alleged illegal transfer of $500m (£350m) from the central bank to the United Kingdom.

José Filomeno dos Santos born on 9 January 1978 (age 40) is also barred from leaving the country, deputy Attorney General Luis Benza Zanga said.

Mr Dos Santos is the highest profile person targeted in new President João Lourenço's anti-corruption drive.

He had led oil-rich Angola's sovereign wealth fund during his father's rule.

However, he was removed from this role in January, months after a BBC investigation into Angola's $5bn fund and following an internal governance review.

The allegations against him relate to the $500m transferred to a British bank, which was then frozen by authorities in the UK. The UK say the money can now be returned.

Mr Dos Santos was formally named a suspect in the investigation, along with the former governor of Angola's central bank, Valter Filipe da Silva.

Neither was immediately available for comment.

Mr Zanga said there was no chance of the case falling under any sort of amnesty currently being offered by the government.

"A pardon will not work... this case will run to its final outcome,"
he said.

Mr Dos Santos was the second of the former president's children to be dismissed by Mr Lourenço.

His sister Isabel was removed as head of the state oil company Sonangol last year.

Billionaire Isabel Dos Santos is Africa's richest woman; it is not known how much her brother is worth. Many of the former president's children have government-linked roles.

Isabel Dos Santos.

His father stepped down after 38 years in power last year.

José Eduardo dos Santos (born 28 August 1942) is an Angolan politician who served as President of Angola between 1979 and 2017. As President, José Eduardo dos Santos was also the commander in chief of the Angolan Armed Forces (FAA) and president of the People's Movement for the Liberation of Angola (MPLA), the party that has ruled Angola since it gained independence in 1975.

Angola's new current president Mr Lourenço, also known as JLo, succeeded Dos Santos with a promise of cracking down on corruption.
He has also developed a reputation for pushing aside powerful figures associated with his predecessor.

João Manuel Gonçalves Lourenço is a current President of Angola since 26 September 2017.

Angola is Africa's second-biggest oil producer.

SOURCE:

BBC.

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