Africa’s richest woman, Isabel dos Santos — the daughter of Angola’s former president — is under investigation by the Angolan government for allegedelly exploiting the country’s wealth to enrich herself.
After a leak of more than 700,000 documents that support that accusations against her, dos Santos’ bank, EuroBic, said on Monday that it was ending its “commercial relationship” with her and investigating tens of millions of dollars worth of suspicious transfers and transactions, The New York Times reports.
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The billionaire businesswoman holds a 42.5% stake in EuroBic, making her the bank’s main shareholder, BBC reports.
Her father, Jose Eduardo dos Santos, ruled oil-rich Angola for almost 40 years until he retired as president in 2017. His daughter was then sacked as chairwoman of Angola’s state oil company Sonangol. According to the leaked documents, as she left the company, Dos Santos approved $58m ($44m) worth of payments, the report states.
Source: Isabel dos Santos: Africa’s Richest Woman ‘Ripped off Angola’ to Enrich Herself
