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Former President’s Daughter Ordered To Repay US$500 Million

2 years agoSat, 31 Jul 2021 14:48:21 GMT
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Former President’s Daughter Ordered To Repay US$500 Million

Former Angolan President, José Eduardo dos Santos’ daughter, Isabel Dos Santos, has been ordered to surrender oil and gas shares worth $500m (£360m) by an international court.

The Netherlands Arbitration Institute, part of the International Court of Arbitration, said that the transaction in which Ms Dos Santos had received the shares in Portuguese oil and gas firm Galp was illegal.

It ordered that she must return them to the Angolan energy group Sonangol.

Ms Dos Santos, who was once known as Africa’s richest woman, has faced a slew of allegations that she plundered state assets and sent the money abroad.

She denies the allegations and says she is the victim of a political witch-hunt.

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More: NewsDay

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