Public Management

Angola : José Filomeno arrested over the $500 million embezzlement case

Tuesday, 25 September 2018 16:08

Last Monday, Angola’s former president’s son José Filomeno dos Santos (photo) was arrested over a $500 million embezzlement case.  

Suspected of having illegally transferred about $500 million of public funds to a bank account in the UK, José Filomeno who was managing Angolan Sovereign wealth fund was found guilty in March 2018 of fraud, embezzlement, traffic of influence, money laundering and criminal association.

According to Angola’s attorney general, this preventive detention was necessary because of the case’s complexity and seriousness and, it should enhance the efficiency of investigations.

Let’s remind that this legal action falls within the framework of the anti-corruption battle initiated by the current president Joao Lourenço and which led to the dismissal of Isabel dos Santos who was managing the national oil company Sonangol as well as the arrest of the former governer of Angola’s central bank.

It is worth reminding that Jean-Claude Bastos de Morais, one of Jose Filomeno dos Santos’ kin who was also involved in the sovereign fund’s management, has also been arrested.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• Government to issue ₦80 billion in bonds through two tranches• Highest yield: 19.30% on four-year notes due April 2029• Bonds tradable, tax-exempt for...
The five-year deal allows Gambia to access liquidity without depleting foreign reserves or increasing debt. Highlights: ● Afreximbank to...
The credit line, 50% guaranteed by the EU, will expand access to finance for women-led and climate-resilient agricultural businesses in East and Southern...
BEAC introduces new USD transfer procedures from CFA franc accounts, effective July 22, 2025. Reform aims to streamline international payments and...
Most Read
01

The acquisition signals rising confidence in Africa’s digital infrastructure as a viable, long-term ...

Kenyan Mawingu Networks to Sell 35% Stake to South Africa’s Pembani Remgro Fund
02

The fintech leaders primarily emerge from Nigeria, Egypt, Kenya, and South Africa, nations recognize...

10 African Fintech Unicorns and Upstarts Make World’s Top 300
03

By linking ECOWAS countries, the project enhances regional digital infrastructure, which is crucial ...

Liberia, ECOWAS & World Bank collaborate on second West Africa submarine cable plan
04

As digital technologies reshape Africa's job market, digital skills are becoming crucial for youth i...

Africa Faces 'Critical' Digital Skills Gap as Youth Population Booms, UN Warns
05

- Micro, small, and medium enterprises received over half of business loans in WAEMU in 2024 - Bank ...

WAEMU: SMEs Secured 52% of Business Loans in 2024, Up From 49% in 2023 
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.