Son of former Angola president indicted over $500m fraud

The son of Angola’s former president José Eduardo dos Santos has been formally accused of fraud over the alleged illegal transfer of $500m from the Central Bank to the UK.

Deputy Attorney General Luis Benza Zanga said José Filomeno dos Santos is also barred from leaving the country,

Mr dos Santos is the highest profile person targeted in new President João Lourenço‘s anti-corruption drive, having 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 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 Ms dos Santos is Africa’s richest woman; it is not known how much her brother is worth.

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