Jose Filomeno dos Santos, the son of former Angola’s President, José Eduardo dos Santos has been sentenced to five years imprisonment over $500 million fraud.
The 42-year old was sentenced by the Supreme Court in Angola after he was accused of trying to embezzle up to $1.5bn from the sovereign wealth fund.
It was gathered that he oversaw the said fund from 2013 to 2018 and he was later charged with stealing $500m from the fund and transferring it to a bank account in Switzerland.
In a ruling on Friday, August 14, judge Joao da Cruz Pitra jailed Jose Filomeno, also known as Zenu, for five years for the crime of fraud and peddling influence.
Son Of Ex-President
Meanwhile, three co-defendants were sentenced to between four and six years in prison for fraud, embezzlement and influence peddling.
The co-defendants include a former governor of the National Bank of Angola (BNA), Valter Filipe da Silva.
You will recall that Angola’s ex-president, José Eduardo dos Santos, led the country for 38 years from 1979 until he resigned in 2017.