Angolan court raises bank accounts and holdings of Isabel dos Santos

The judicial decision, requested by the Angolan State, to which Jornal Económico had access, indicates that the non-return of a financing that Sonangol had constituted to pay Exem's entry - whose beneficiaries are the businesswoman and her husband - is involved in a company. controlled by the Amorim Group and thus, indirectly, in the Portuguese company Galp Energia.

Angolan justice will seize assets of Isabel dos Santos, including bank accounts and holdings in several Angolan companies. The judicial decision, requested by the Angolan State, to which Jornal Económico had access, indicates that the non-return of a financing that Sonangol had constituted to pay Exem's entry - whose beneficiaries are the businesswoman and her husband - is involved in a society controlled by the Amorim Group and thus, indirectly, in the Portuguese company Galp Energia.

"The Angolan State, in this act represented by the Public Prosecutor's Office before the National Asset Recovery Service, came to request the precautionary measure of attachment against Isabel José dos Santos and her husband Sindika Dokolo", refers to the order issued by the Luanda Provincial Court and signed on 23 December.

The seizure covers bank accounts at BFA, BIC and BAI and BE, 25% interest in Banco Internacional de Crédito, through SAR- Sociedade de Participações Financeiras, 17% of BIC through Finisantoro Holding, 51% of Banco de Fomento Angola through Unitel, 25% from Unitel, 99,5% from ZAP Midia through Finstar, 100% from Finstar, in Cimangola, 97% from Condis Sociedade de Distribuição de Angola, among others.

According to the reasoning of the Angolan State, a contract was signed, through the state-owned companies SODIAM and Sonangol, to create Esperaza Holding, which is 60% owned by Sonangol and 40% Exem Energy BV (in the Netherlands), of whom not only Isabel dos Santos is the beneficiary. but also her husband Sindika Dokolo and Portuguese Mario Leite da Silva.

“For the realization of this deal, the Angolan State, through Sonangol, entered into 100% of the capital, corresponding to 193.465.406,23 euros, having lent to Exem Energy BV 75.075.880,00 euros, values ​​not returned until now data ”, according to a statement from the Attorney General's Office of the Republic of Angola, to which the JE also had access.

According to the Angolan PGR "there was an attempt to pay the debt by the defendants [dos Santos, Dokolo and Leite da Silva] in kwanzas, a fact that was rejected because the debt was contracted in euros".

In addition to this amount, there was another loan from the Angolan State to invest in the Swiss company De Grisogono, in the amount of US $ 146.264.434,00, through BIC. The three entrepreneurs formed the Victória Holding tax company, held in equal parts by Exem and SODIAM.

"With the completion of these deals, the Angolan State had a loss of 1.136.996.825,56 dollars", adds the reasoning. It is based on this loss that the Provincial Court of Luanda decreed the arrest.

The Luanda Provincial Court explained that "in order to guarantee the normal functioning of companies whose shareholdings were arrested, at the request of the Attorney General's Office, the Court appointed the Councils of Administration and the National Bank of Angola as loyal depositaries".

He added that "it is important to emphasize that the present precautionary measure does not affect the jobs of the companies mentioned above nor the commitments assumed by them, as it only seeks to safeguard the fulfillment of an obligation".

“Hide the heritage”, claims the Angolan State

Isabel dos Santos is the daughter of former Angolan President José Eduardo dos Santos. The businesswoman, who has stakes in Portugal in telecom NOS and Efacec, chaired Sonangol between June 2016 and November 2017, when she was exonerated by João Lourenço, president of the country since August 2017.

In the order of the Luanda Provincial Court, it is read that Isabel dos Santos and Sindika Dokolo are absent from Angola and reside between Lisbon and the United Kingdom.

The Angolan State claims in the reasoning that "the defendants are hiding the assets obtained at the expense of the State, transferring them to other entities".

It further claims that “the defendant Isabel dos Santos, through her partner Leopoldino Fragoso do Nascimento, is trying to transfer some of her business to Russia, with the Portuguese Judicial Police intercepting a transfer in the amount of 10 million euros that was destined the Russia.

The court's decision adds that in relation to the bank balances forfeited, loyal depositaries of these accounts are appointed the banking financial institutions in which they are domiciled, and a debit block must be made, preventing the withdrawal of any monetary amount from these accounts.

“Still with regard to bank accounts, a faithful depositary of existing balances in the foreclosed accounts is also constituted, the National Bank of Angola as the Regulatory Entity of all banking financial institutions, and must inspect the performance of the BIC, BAI, BFA and BE banks regarding to arrest, preventing any transfer of values ​​from these accounts for whatever reason ”, he adds.

With regard to social participation, faithful depositary nominees are the Boards of Directors of each aforementioned company / company, which are prohibited from proceeding with any assignment or other business on the shareholdings to be held and also prohibited from proceeding with the delivery of profits to the defendants directly or through third parties or third parties in which they are beneficiaries, and must retain these profits until the court decides.

“The National Bank of Angola is also notified not to issue any LEC - Capital Export License in favor or at the request of any of the companies mentioned here and immediately inform the court of any attempt to carry out the operations mentioned here”, concludes the dispatch.

[News updated at 20:48 pm]

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