The Supreme Court of Angola has handed a five-year jail sentence to Jose Filomeno dos Santos, the son of the oil-rich country’s former president, for fraud when he headed the national sovereign wealth fund.
Dos Santos, 42, was summoned before the court in December over allegations he tried to embezzle up to $1.5 bn from the sovereign wealth fund, which he oversaw from 2013 to 2018. We reported his indictment back in 2018. Read here
Nicknamed “Zenu”, dos Santos, son of ex-President Jose Eduardo dos Santos, was charged with stealing $500m from the fund and transferring it to a Swiss bank account.
“For the crime of fraud … and for the crime of peddling influence … the legal cumulus condemns him to a single sentence of five years in prison,” judge Joao da Cruz Pitra said on Friday.
Three co-defendants, including the former governor of the National Bank of Angola (BNA), Valter Filipe da Silva, were sentenced to between four and six years in prison for fraud, embezzlement and influence peddling.
All four were acquitted of money laundering charges. They have previously denied any wrongdoing.