BIG DEAL GOES SOUR: ANGOLA’S CENTRAL BANK SUES OVER $500 MILLION INVESTMENT
Shocking Turn of Events in Angola’s Central Bank Lawsuit
LONDON - In a stunning development, Angola’s central bank has filed a lawsuit against three individuals and an associate over a massive investment deal gone wrong. The case involves a $500 million transfer to a UK-based company, Perfectbit Ltd., which was allegedly guaranteed by Credit Suisse AG.
Background of the Deal
According to court documents, the deal was orchestrated by Messrs Onderwater, Pontes, and Barbosa, who convinced Angola’s central bank governor to transfer the massive sum in August 2018. The money was meant to fund an investment fund, but it has since been frozen by HSBC, where it was deposited.
Investigation and Lawsuit
The investigation began when Angola’s finance minister, Mr Mangueira, became suspicious of the deal and launched an inquiry. He accused Mr Barbosa, a Brazilian businessman, of being a “snake-oil salesman” and masterminding a fraud.
In response, President João Lourenço gave the central bank governor 24 hours to recover the $500 million, but it was too late. The deal collapsed, and the central bank governor resigned without explanation.
Angola’s finance ministry has since filed a lawsuit against the three individuals and an associate in the UK courts, seeking to freeze their assets and recover the stolen funds. A judge froze the remaining $499 million in the HSBC account, and the National Crime Agency launched a criminal investigation.
Key Players Involved
- Mr Barbosa: Brazilian businessman accused of being the mastermind behind the fraud
- Mr Onderwater: Involved in the deal, but his exact role is unclear
- Mr Pontes: Key player in the deal, denies any wrongdoing
- Mr Filomeno dos Santos: Former president’s son charged with criminal activity
- Mr Barbosa’s associate: Arrested at Heathrow Airport and released under investigation
Reactions from Involved Parties
- Mr Pontes denied the criminal charges and said he will “continue to act in good faith in his commercial dealings.”
- The three individuals deny any wrongdoing, claiming they operated under contracts with the central bank or each other.
Consequences of the Deal Gone Wrong
The case has sparked concerns over corruption and money laundering in Angola’s government and financial sectors. Prosecutors have charged several individuals, including Mr Filomeno dos Santos, the former president’s son, and Mr Pontes, a key player in the deal.
As the investigation continues, questions remain over how such a massive investment went awry and whether those involved will face consequences for their actions.