How Former Africa’s Richest Woman, Dos Santos Asset Valued At $734m Was Frozen

Formerly Africa’s wealthiest woman, Isabel dos Santos, encountered a significant legal blow as a London judge granted a freezing order on her assets, valued at $734 million.

The ruling follows a case brought by Angolan telecoms giant Unitel, stemming from loans arranged during dos Santos’ tenure as a director at the company.

In direct response to the verdict, dos Santos expressed disappointment, stating, “This ruling is deeply concerning and an unjust infringement on my rights.” Her legal team reiterated the assertion that the lawsuit was politically motivated, part of a larger campaign orchestrated by the Angolan government.

READ ALSO: US-EU To Suspend Trade War Until 2025 Amidst Presidential Election

The court decision marks a pivotal moment in dos Santos’ ongoing legal battles, compounded by accusations of embezzlement and money laundering during her father’s presidency.

The freeze encompasses properties in London, Dubai, and Monaco, with dos Santos denying any wrongdoing.

Unitel’s pursuit to safeguard its interests, alleging uncommercial loan terms favoring dos Santos, led to this globally impactful ruling. The judge highlighted dos Santos’ association with Unitel until November 2020, emphasizing the company’s ties to the Angolan State.

This latest setback for dos Santos comes in the wake of a financial downfall starting in 2020, following the Luanda Leaks that exposed her wealth accumulation through preferential deals and contracts.

The case underscores longstanding suspicions regarding the financial practices of her father’s regime and casts doubt on the legitimacy of dos Santos’ business endeavors.

The issuance of an INTERPOL Red Notice further complicates dos Santos’ situation, urging governments to provisionally arrest her pending local legal proceedings.

As the legal saga continues, dos Santos maintains her innocence amidst mounting legal pressures and ongoing scrutiny of her financial legacy.