Angola’s Former Billionaire Businesswoman Faces 12 Criminal Charges

Luanda, Angola

Isabel dos Santos, daughter of Angola’s former authoritarian president, has been charged with 12 crimes related to state-owned oil company Sonangol

Background

According to a 46-page indictment dated January 11, Angolan prosecutors have accused Isabel dos Santos and her associates of causing state losses of around $219 million while she was head of Sonangol. The allegations include money laundering, embezzlement, and tax fraud.

Key Charges Against Isabel dos Santos

• Money Laundering: Using offshore companies to conceal millions in ill-gotten gains
• Embezzlement: Illegally pocketing millions from Sonangol’s funds
• Tax Fraud: Failing to pay taxes on her earnings

Co-Defendants and Associates

• Mario Silva: Alleged co-conspirator in the embezzlement scheme
• Sarju Raikundalia: Accused of helping dos Santos create shell companies to launder money
• Paula Oliveira: Named as a co-defendant in the indictment
• PwC’s Angolan and Lisbon offices: Accused of profiting from auditing contracts worth over $10 million and consultancy deals with dos Santos’ shell companies

Reactions from Isabel dos Santos

“I think it is time for the government and the republic’s attorney general to take responsibility for the accusations they make because it’s irresponsible to be managing a country based on fabricated lies,” said dos Santos in an interview with Angolan radio station Rádio Essencial.

The new indictment marks the latest development in a long-running series of legal actions against dos Santos, who has been the subject of civil and criminal investigations in multiple countries since 2020.