Title: Angolan Businesswoman Isabel dos Santos Charged with Money Laundering, Embezzlement, and Tax Fraud

Overview

Angolan authorities have filed charges against businesswoman Isabel dos Santos, accusing her of causing approximately $219 million in losses to the state while she was the head of state-owned oil company Sonangol.

Charges and Indictment

• Dos Santos stands accused of money laundering, embezzlement, and tax fraud.
• The attorney general’s office detailed allegations in a 46-page indictment on January 11, 2023.
• The criminal charges involve offshore companies, fraudulent invoices, forged documents, and exorbitant salary raises.

Accused Associates

• Mario Silva, Sarju Raikundalia, and Paula Oliveira are named as co-defendants.
• dos Santos and Silva were previously implicated in the Luanda Leaks investigation.

Responses from dos Santos

• dos Santos has repeatedly denied any wrongdoing.
• She accused the Angolan government and the republic’s attorney general of making false claims.

International Investigations

• The Luanda Leaks report, published in 2020, revealed a complex web of companies, fraudulent deals, and tax evasion.
• Several countries including Portugal, Angola, and the United States have launched investigations based on the ICIJ findings.

Losses to the State

• Das Santos and her associates caused the state to lose millions through inflated salaries, fraudulent sales, and payments to several shell companies.
• dos Santos defended the inflated salaries as necessary to make Sonangol a competitive employer.

Co-Defendants and Their Alleged Involvement

• Several associates, including Sarju Raikundalia, Mario Leite da Silva, Paula Oliveira, and Angolan unit of PwC, are named co-defendants.
• Executives from PwC’s Luanda and Lisbon offices are accused of profiting from auditing contracts and consultancy services with dos Santos’ shell companies, totaling over $10 million.
• PwC Portugal has launched an internal investigation following the revelations.