Son of Angola's former president charged in $500m fraud case

March 26 (UPI) — The son of Angola’s former president has been charged with fraud in relation to an alleged illegal transfer of $ 500 million from the country’s central bank.

Jose Filomeno dos Santos, son of former President Jose Eduardo dos Santos, is the highest profile figure to be charged as part of new President Joao Lourenco’s efforts to combat corruption in Angola.

He also was the head of Angola’s $ 5 billion sovereign wealth fund, but was removed from the position following an internal governance review.

Dos Santos allegedly attempted to transfer the $ 500 million to a British bank, but authorities froze the funds due to suspicion about the transaction.

British authorities said the money can be returned to Angola.

Dos Santos’ passport was seized and he was forbidden from leaving the country as a result of the charges.

Deputy Attorney General Luis Benza Zanga said the crime won’t be pardoned because fraud isn’t covered under the government’s amnesty provisions.

“A pardon will not work … this case will run to its final outcome,” Zanga said.

The former governor of Angola’s central bank, Valter Filipe da Silva, also was charged with fraud in connection to the case.

Lourenco also ousted other members of the former president’s family including removing his daughter Isabel Dos Santos from her position as head of the state oil company Sangol last year.

She is Africa’s richest woman and has been the subject of investigations regarding transactions she made as the head of the oil company.

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