The Dutch company, linked to Isabel dos Santos, has to donate millions to Angola

The Dutch company, linked to Isabel dos Santos, has to donate millions to Angola

A Dutch company linked to the wealthy daughter of former president Isabel dos Santos must return hundreds of millions of dollars in stock to Angolan state oil company Sonangol. This was determined by an international arbitration court.

It is related to the Dutch company Exem Energy, which, according to the International Consortium of Investigative Journalists (ICIJ), is owned by Dos Santos. The company allegedly embezzled funds at the expense of Sanongol, for which dos Santos was previously responsible.

More precisely, it is about controversial transactions from 2006, in which a batch of shares was transferred from Sonangol to the Dutch letterbox company.

According to the Netherlands Arbitration Institute, which evaluated the case on behalf of the International Court of Arbitration, this transaction was illegal. The arbitrators ruled that Sonangol must therefore recover the shares. Exem talks about a political process and says he will appeal the ruling.

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The Exim case is certainly not the only accusation against dos Santos. According to the NGO, the “richest woman in Africa” ​​has mysteriously enriched herself, thanks in part to her father’s presidency. In 2017, he resigned as Head of State of Angola after 38 years; His successor expelled dos Santos from the position of director of Sonangol.

devotion Last year she described how the daughter of former president José Eduardo dos Santos works in oil, telecommunications and diamonds through Dutch postal companies. By constantly moving its assets to other management offices, supervisors have lost interest out of sight.

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Angola took over dos Santos assets worth $1.1 billion in her country. The Public Prosecution Service of the Netherlands also does this criminal investigation On suspicion of corruption across Dutch BVs.

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