Africa’s richest woman, Isabel dos Santos, faces escalating legal challenges as Portugal has frozen dozens of her personal and corporate bank accounts, along with those of her husband, Sindika Dokolo.
This action stems from a request by the Angolan government, which has initiated court proceedings against her.
The Portuguese prosecutor’s office confirmed to news agency Lusa that the seizure was part of international judicial cooperation with Angola, targeting dos Santos due to her suspected involvement in a corruption case.
Background of the Corruption Allegations
Dos Santos, with an estimated net worth of $2.2 billion, is the daughter of former Angolan President José Eduardo dos Santos, who ruled for 38 years until 2017.
She has been linked to the misappropriation of funds from Sonangol, Angola’s state oil company, where she served as chair for 18 months after her controversial appointment in 2016.
Despite her denial of the charges, reports suggest she authorized consultancy fees totaling approximately $115 million, which she claims are “extremely misleading and untrue.”
The Guardian reported that deals involving dos Santos and her husband with state-owned diamond and oil businesses resulted in Angola losing around $1 billion.
Impact and Denials
The alleged embezzlement, reportedly aided by four accomplices, is said to have contributed to dos Santos amassing her $2.1 billion fortune.
As a standard procedure when corruption charges are filed, her accounts have been flagged and restricted from further transactions.
Nairametrics previously highlighted her role in these financial schemes, raising questions about the legitimacy of her wealth accumulated during her tenure at Sonangol.
Scope of Assets
Dos Santos and her husband control a wide range of assets, including interests in banking, diamonds, oil, telecoms, property, engineering, and supermarkets across Angola and Portugal.
Their holdings also extend to properties in London, now subject to scrutiny amid the ongoing investigations.
