info@lawreporterslive.com

22.5 C
Abuja
Friday, February 26, 2021

[ANGOLA]: Ex-vice President’s Son Bags Five Years Jail Over $500m Fraud

Must read

Court temporarily halts re-trial of Orji Uzor Kalu over alleged N17.1bn fraud

A Federal High Court in Abuja has ordered the re-arraignment of former Abia State Governor, Orji Uzor Kalu in an alleged N7.1bn money-laundering charges...

Ayade swears in Justice Akon Ikpeme as Cross River Chief Judge

Twice rejected by the State House of Assembly for being a security threat Justice Akon Bassey Ikpeme was on Monday sworn-in by Cross River...

Court orders forfeiture of Yari’s N284m to FG

A Federal High Court in Abuja on Tuesday ordered a final forfeiture of about N284, 306, 294.04 linked to a former governor of Zamfara,...

Court reverses dismissal of 3 police officers, orders recall

Justice Elizabeth Oji of the Lagos Judicial division of the National Industrial Court has nullified the purported dismissal of Mufutau Olaosun, Temitope Adebayo, and...

The Supreme Court in Angola has handed a five-year sentence to Jose Filomeno dos Santos, son of the country’s former president, over 500 million fraud.

The 42-year-old was accused of attempting to embezzle up to $1.5 billion from the sovereign wealth fund, which he oversaw from 2013 to 2018.

He was later charged with stealing $500 million from the fund, and transferring it to a bank account in Switzerland.

His father, José Eduardo, led the country for 38 years. He was president from 1979 until he resigned in 2017, and was replaced by his former defence minister, Joao Lourenço.

“For the crime of fraud … and for the crime of peddling influence … the legal cumulus condemns him to a single sentence of five years in prison,”the judge, Joao da Cruz Pitra said while delivering judgment on Friday.

Three co-defendants, including former governor of the National Bank of Angola (BNA), Valter Filipe da Silva, were sentenced to between four and six years in prison for fraud, embezzlement and influence peddling.

Dos Santos is the first member of the former presidential family to be prosecuted, as part of an anti-corruption campaign led by Lourenco, who came to power in 2017.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

Court temporarily halts re-trial of Orji Uzor Kalu over alleged N17.1bn fraud

A Federal High Court in Abuja has ordered the re-arraignment of former Abia State Governor, Orji Uzor Kalu in an alleged N7.1bn money-laundering charges...

Ayade swears in Justice Akon Ikpeme as Cross River Chief Judge

Twice rejected by the State House of Assembly for being a security threat Justice Akon Bassey Ikpeme was on Monday sworn-in by Cross River...

Court orders forfeiture of Yari’s N284m to FG

A Federal High Court in Abuja on Tuesday ordered a final forfeiture of about N284, 306, 294.04 linked to a former governor of Zamfara,...

Court reverses dismissal of 3 police officers, orders recall

Justice Elizabeth Oji of the Lagos Judicial division of the National Industrial Court has nullified the purported dismissal of Mufutau Olaosun, Temitope Adebayo, and...

Court acquits lawyer of stealing N50.2m from Domino Stores

An Ikeja High Court on Wednesday acquitted a lawyer, Yetunde Sousa, accused of stealing N50.2Million from Dominos Stores and Ozone Cinemas. Delivering judgment, Justice Raliat...