Luanda, Angola – (African Boulevard News) – Isabel dos Santos, the billionaire daughter of Angola’s former president, has been convicted of embezzling 52 million euros from Angola’s state oil company, according to a Dutch court.
The verdict was delivered by a court in The Netherlands, where dos Santos reportedly held her shares in the Portuguese oil company, Galp Energia. She was found guilty of fraud and money laundering and ordered to pay the amount back to the Angolan government.
The case is part of a broader investigation into corruption allegations against the former president’s family, which has spanned several countries and has triggered an international manhunt for the accused.
Dos Santos, who was once considered the richest woman in Africa, has always denied the allegations. She has maintained that the charges are politically motivated and aimed at tarnishing her father’s legacy.
However, the court found that she used her position as the head of Angola’s state oil company, Sonangol, to transfer the funds to a Dubai-based company that she owned with her husband. They reportedly used the funds to buy luxury properties in Dubai and Portugal.
The court’s verdict has been hailed as a victory for Angola’s anti-corruption campaign. President Joao Lourenco, who succeeded dos Santos’ father in 2017, has made the fight against corruption a top priority of his administration.
“The justice system has demonstrated that no one is above the law,” the president’s office said in a statement.
Experts say the conviction will have far-reaching implications for both Angola and Portugal, where dos Santos owned stakes in several major companies.
“This is a landmark case and sends a strong message to other corrupt officials that the days of impunity are over,” said Rafael Marques, an Angolan investigative journalist who has been reporting on corruption in the country for decades.
The case has also put a spotlight on the role of Western financial institutions and consulting firms in facilitating corruption in Africa. Dos Santos reportedly used banks and law firms in Europe to move the funds out of Angola.
“The role of Western institutions in enabling corruption cannot be ignored,” said Femi Oke, a journalist and African affairs analyst. “This is an opportunity for them to take a hard look at their own practices and start taking responsibility for their role in the problem.”
As dos Santos prepares to appeal the verdict, the case is likely to continue to dominate headlines in Angola and beyond. It is a reminder that the fight against corruption is far from over and that there are still many challenges ahead for those trying to clean up the continent’s politics and economies.
