Tag: Crédit Suisse

Ex-President dos Santos and His Son’s Billion-Dollar Scam

Before agreeing to step aside after 38 years in power, Angola’s former President, José Eduardo dos Santos, made sure he obtained guarantees of permanent immunity from prosecution for any crimes committed during his time in office. For Angola’s ruling party MPLA and lawmakers, it was a pragmatic necessity: how else could Dos Santos be persuaded to step aside? The man had an international reputation as one of Africa’s most zealous kleptocrats, using his position to enrich himself and his extended family. Six months on, however, a complex international investigation into an attempted US $1.5 billion fraud involving his son José Filomeno dos Santos “Zenú” has put Angolans openly discussing whether the Dos Santos family en masse should have those immunity guarantees removed. His son is firmly in the sights of criminal investigators who have documentary evidence that it was his father who oversaw the attempted scam. The Weakest Link As […]

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Valter Filipe and José Filomeno dos Santos indicted

José Filomeno dos Santos (son of former presidente José Eduardo dos Santos, known as Zenú), and the former governor of the National Bank of Angola, Valter Filipe, were indicted two weeks ago by the Attorney General’s Office for their involvement in the 500-million-dollar fraud. This refers to the transfer last September of 500 million dollars from the National Bank of Angola to an account with Crédit Suisse in London as a guarantee for a supposed funding of 30 billion dollars. In fact, as already investigated by Maka Angola early in January the operation would turn out to be a fraud against the Angolan State that was carried out by José Filomeno dos Santos. To carry it out, he used his dummy company, Mais Financial Services. London’s financial authorities suspected the fraud and blocked the funds in London. The referred transfer led to the resignation, on October 27, of the then […]

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Angolan Central Bank US $500 Million Swindle Foiled

The latest episode in the long-running saga of the alleged plunder of Angola’s public coffers has just come to light. Thanks to the diligence of British financial watchdogs and a change of regime in Angola, what is alleged to have been an attempt by the former President’s son to divert US $500 million, with his father’s blessing, looks to have been halted at the eleventh hour. Full details of the alleged fraud have yet to be revealed, but information confirmed by separate sources indicates that the new Angolan President João Lourenço has taken steps to reclaim the funds which have been frozen pending the outcome of an international investigation. A spokesman for the UK’s National Crime Agency told us: “We can confirm that the NCA’s International Corruption Unit is investigating a case of potential fraud against the Angolan government.” The NCA spokesman said they could not provide any further details […]

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