Charged with stealing U.S.$500 million from the Sovereign Wealth Fund and transferring it to a bank account in Switzerland, José Filomeno dos Santos is the first member of the former first family to be prosecuted as part of an anti-corruption campaign led by President Joao Lourenco. Former President José Eduardo dos Santos's billionaire daughter Isabel dos Santos is also being probed for a long list of crimes, including mismanagement, embezzlement and money laundering during her tenure at the state-run oil giant Sonangol.
Angola: Court Sentences 'Zenu' Dos Santos to Five Years in Jail
After eight months of trial, the former chairman of the board of the Sovereign Fund of Angola, José Filomeno dos Santos "Zenu", was sentenced on Friday to five years in prison by the Supreme Court.
The son of the former President of the Republic, José Eduardo dos Santos, was one of the most prominent names in the well-known "500 million case", which also involved the former governor of the National Bank of Angola, Valter Filipe, who was sentenced to eight years in prison.
The court also sentenced António Bule to five years in prison and George Gaudens to six years. However, the defence lawyers have already appealed the sentences, with suspensive effect.
The case dates back to August 2017, when the defendants began to set up the scheme for the illegal transfer of USD 500 million from the BNA to a bank account in England.
The convicts' allegation was that the amount would serve as a guarantee for the financing of strategic projects, valued at 35 billion dollars, which would be mobilised from a syndicate of banks on the international market.
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