Legal Jeopardy for the Angolan ‘Princess’

The woman who once styled herself as Africa’s first female billionaire, controlling a complex empire of companies registered around the world, is discovering that all those overseas registrations make her vulnerable to legal action in multiple jurisdictions. As reported extensively by Maka Angola over many years, evidence shows the Dos Santos family and associates customarily registered companies overseas (often in tax havens known for lax supervision) using them as vehicles for the sole purpose of transferring large sums of money between multiple companies owned or controlled by the Dos Santos cohort. International experts say such transactions between shell companies are typical of large-scale embezzlement and money-laundering. One particular financial manoeuvre involving nearly US $500 million transferred through a Dutch-registered subsidiary has now placed Isabel dos Santos in the position of having to defend herself against a lawsuit in the Netherlands in a case that has also been the subject of […]

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Calling the Kleptocrats to Account

After more than four decades of official silence, Angola’s dirty secrets are being swept from under the carpet. Officially-sanctioned news reports denouncing specific cases of corruption in high places have mushroomed in a matter of months. People once thought to be untouchable are under investigation or already face criminal charges. José Filomeno dos Santos (Zenú), and his business associate Jean-Claude Bastos de Morais have been charged with misappropriating $500 million US dollars from the $5 billion US dollar Angolan Sovereign Wealth Fund. The fate of the rest of the fund has yet to be determined. Zenú’s elder sister, Isabel dos Santos, is alleged to have built a billion-dollar business empire based on nepotism and ‘loans’ of public money that have never been repaid. The evidence now emerging confirms the endemic corruption that Maka Angola has been reporting for years. There is, of course, a common denominator in the scandals involving […]

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A Cautionary Tale for Foreign Investors in Angola

It may have looked like ‘easy pickings’. The property market in Angola was booming: extreme shortages of decent housing in the face of overwhelming demand (especially in the capital, Luanda) meant that hotel rates and rents had soared to become the highest of any city in the world. For non-Angolans with capital to invest, offers of bonds and equity in joint-venture companies promising a multi-million dollar portfolio of properties with guaranteed monthly income, seemed a sure-fire prospect. But as with any investment that offers a high return, there is often high risk. And nowhere more so than when dealing with the kleptocracy that ruled Angola for four decades. As ongoing lawsuits in both Angola and the USA have shown, it is all too easy for well-connected Angolans to swindle their foreign partners, and get away with it. Just ask Africa Growth Corporation (known by its acronyms AGC* or AFCO) (*See […]

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Flying in the Face of Justice

Jean-Claude Bastos de Morais, the Swiss-Angolan ‘businessman’ who is accused of masterminding a conspiracy to defraud the Angolan Republic of untold millions of dollars, is enjoying life as a free man in Angola, despite being the subject of police investigations and criminal and civil lawsuits in several countries. Why, when he faces such serious criminal and civil charges in connection with his (mis)management of US $3 billion of the Angolan sovereign wealth fund and alleged fraud and money-laundering, is Mr. Bastos de Morais at liberty to continue to run the Banco Kwanza Invest (BKI) and the controversial project to build and run the Caio deep sea port project in Cabinda province? He is said to have amassed an enormous fortune largely thanks to his association with one of the sons of former Angolan President José Eduardo dos Santos: José Filomeno, nicknamed Zenú. In one of his many acts of outright […]

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The Angolan Sovereign Fund and the Arch-Fraudster

When historians come to write the unexpurgated story of corruption in Angola, the chapter on how dual Swiss-Angolan national Jean-Claude Bastos de Morais enriched himself from the Angolan Sovereign Fund is sure to be a page-turner. Bastos de Morais is the silent partner of the former Sovereign Fund’s chairman, José Filomeno dos Santos (Zenú), the hitherto-untouchable son of former President José Eduardo dos Santos who turned Angola into a kleptocracy during 38 years in power. The US $5 billion Sovereign Fund was created to stimulate economic diversity – a hedge against the future when Angola’s rich oil reserves run out. Zenú and his buddy Jean-Claude are alleged to have treated the Sovereign Fund as their personal piggy bank and both face charges of fraud and money-laundering. Zenú’s father used also set up the Angolan Venture Capital Fund (in Portuguese: Fundo Activo de Capital de Risco Angolano, FACRA) in 2012. Under […]

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Prosecuting the Messenger, Absolving the Corrupt

Angola’s public prosecutor, Pedro Pederneira, calls for my conviction for the crimes of insulting a public authority and speaking against the state security (June 15). He wants me in jail for writing that former President José Eduardo dos Santos protected the corrupt. This is the crime against the state security. The public prosecution office recently charged Dos Santos’ son, José Filomeno dos Santos, and his accomplices for the looting of US $500 million from Angola’s central bank. The looting had been authorized by the father weeks before he stepped down in September last year. Last January, I was the very first to expose the whole scam at home. So, where is the crime against the state security? I supplied the court with plenty of evidence on past cases in which Mr. Dos Santos engaged and protected the corrupt, and the then-attorney general never replied to many of my formal complaints […]

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The Trial: The Plaintiff’s Confusing Complaints

Finally, on May 21, 2018, the plaintiff appeared in court, some three months after the scheduled start of the trial. The former attorney general of the Republic, General João Maria de Sousa (2007-2017), had one condition: The trial had to be held in camera during his testimony. It would no longer be in the office of the attorney general, as he initially petitioned. Judge Josina Falcão explained that it would be impossible to keep the plaintiff’s testimony a secret, because the two journalists on trial would reveal it to the public. She stressed that the General would have to sit on the witness stand like anyone else. No special chair for him. As he entered the courtroom, he told his security detail to take their seats. His lawyer signaled him to keep them out, and he obliged. He was in an uncomfortable position, his hands trembled throughout the proceedings. The […]

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My Trial and The Law to Allow Money Laundering

I am due back in court on May 21 for exposing corruption. The corrupt former attorney general of the Republic, General João Maria de Sousa, is the plaintiff. He has failed to appear in court for the past two months. He even demanded that the trial be moved from the courtroom to the Office of the Attorney General, claiming immunity and privileges. But on April 25, he fled to Portugal and became, for the third time, a runaway plaintiff. There is a great irony in this trial that exposes the farcical anti-corruption discourse of President João Lourenço. On May 17, his ruling MPLA, in power for the past 42 years, passed the Law for the Repatriation of Capital. This new law might as well be aptly named the Law on Money Laundering, for that is what it is. According to this law, those who have siphoned off funds from the […]

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Another Day in Court

Today I returned to court. The judge was in no mood for jokes, berating me for my public criticism of what was decided in the previous session. Judge Josina Ferreira Falcão ruled today against the request made last week by the plaintiff, former attorney general João Maria de Sousa. At the 11th hour, General Maria de Sousa’s counsel requested another postponement because his client had to travel to Portugal. On April 16, attorney João Pedro cited special privileges and immunity to justify General Maria de Sousa’s no-show in court. He further requested that the proceedings be moved to the Office of the Attorney General. The judged ruled in favor of the requests. However, last Friday afternoon, the court called to inform me that General Maria de Sousa had requested another postponement. Then, on Monday afternoon, the court notified me that the trial would proceed the following morning at Luanda’s Provincial […]

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The Runaway Plaintiff Making a Mockery of Justice in Angola

In my professional career, I stood trial three times due to my exposés on the powerful elite in Angola. The first time, the plaintiffs were the President and the Attorney General (AG). The second time, I took on eight generals in a bundle as the plaintiffs. Now, in a repetition of the circumstances of that first trial, the plaintiffs are once again that former president and his AG. Each of these trials takes place in an alternative reality in which fiction trumps fact: as though drawing attention to their behavior is more offensive than the offenses themselves. Now, for the third time as of April 16, 2018, Luanda Provincial Court has a runaway plaintiff making a mockery of justice. Judge Josina Ferreira Falcão decided that the date of the trial must be moved to April 24, and the location to the Office of the Attorney General (AG) of the Republic, […]

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