Angola’s state prosecutor arrested the son of former President Jose Eduardo dos Santos over the alleged illegal transfer of $500m from state coffers to a Swiss bank account. Jose Filomeno dos Santos’s detention marks the latest step by President Joao Lourenco to tackle graft and dismantle the influence of his predecessor, whose four-decade rule left Angola one of the world’s most corrupt nations. Since coming to power in September, Lourenco has dismissed Dos Santos’s daughter, Isabel, as chair of state oil producer Sonangol and fired Jose Filomeno as head of the country’s $5bn sovereign wealth fund. Jose Filomeno, who is accused of crimes related to his management of the fund including money laundering, has been placed under preventive detention, the state prosecutor’s office said in a statement e-mailed on Monday from the capital, Luanda. His friend and business partner, Jean Claude Bastos de Morais, also was arrested on similar charges, it said. “The evidence gathered resulted in ...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.