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Old 19th January 2020, 08:28 PM   #1
Puppycow
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Isabel dos Santos: Africa's richest woman 'ripped off Angola'

Isabel dos Santos: Africa's richest woman 'ripped off Angola' (BBC)

Quote:
Leaked documents reveal how Africa's richest woman made her fortune through exploiting her own country, and corruption.

Isabel dos Santos got access to lucrative deals involving land, oil, diamonds and telecoms when her father was president of Angola, a southern African country rich in natural resources.

The documents show how she and her husband were allowed to buy valuable state assets in a series of suspicious deals.

Ms Dos Santos says the allegations against her are entirely false and that there is a politically motivated witch-hunt by the Angolan government.
Gee, I wonder where she got the idea to use that defense?
There's a lot more in the story and it's very clear that her fortune is the result of political corruption. Also, she lives in the UK now. I wonder if anything can be done about that? Perhaps the government of Angola should sue her in UK courts? Could she be arrested and prosecuted or deported to Angola to face justice there?

There's also a NY Times article:
How U.S. Firms Helped Africa’s Richest Woman Exploit Her Country’s Wealth

Quote:
LISBON — It was the party to be seen at during the Cannes Film Festival, where being seen was the whole point. A Swiss jewelry company had rented out the opulent Hotel du Cap-Eden-Roc, drawing celebrities like Leonardo DiCaprio, Naomi Campbell and Antonio Banderas. The theme: “Love on the Rocks.”

Posing for photos at the May 2017 event was Isabel dos Santos, Africa’s richest woman and the daughter of José Eduardo dos Santos, then Angola’s president. Her husband controls the jeweler, De Grisogono, through a dizzying array of shell companies in Luxembourg, Malta and the Netherlands.

But the lavish party was possible only because of the Angolan government. The country is rich in oil and diamonds but hobbled by corruption, with grinding poverty, widespread illiteracy and a high infant mortality rate. A state agency had sunk more than $120 million into the jewelry company. Today, it faces a total loss.
Thirty per cent of Angolans live in poverty on less than $2 a day. Meanwhile, the country's wealth is being plundered by corrupt politicians.
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Old 20th January 2020, 07:18 AM   #2
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When i saw an interview with her a couple a little while ago on the BBC news website i was wondering why they were letting her lie so brazenly and seemingly humored her claims about becoming the next president of Angola.

Realistically speaking here, there's no way any of her wealth has been gained legitimately and fairly. You don't become rich in a developing country with very high levels of corruption without being at least a little bit corrupt. You don't become very rich in a country of which your parent seized control over after a decades long civil war, without you benefiting from corruption and nepotism.

The only thing that's notable here is how brazen they were. They literally made her the head of the all important state owned oil company that is responsible for 90% of all exports, even-though she has no relevant experiences or competence.

The same kind of corruption and nepotism took place in Uzbekistan, where the former long-term dictator's "crown princess", who had their own luxury fashion line, profited heavily from her relation to her father. This in a country that's so poor that it forces school children to pick cotton without any compensation, with most profits flowing into the coffers of the political establishment.

But when her elderly father was approaching the end of their life things got tough for the spoiled brat, and she was outmaneuvered by others who wanted to neutralize her influence on the succession. Yet despite the fact that she was obviously the beneficiary of extreme corruption, she somehow managed to pay people in the west to raise her case in the media, where they were trying to portray her as some innocent victim. In reality she knew the rules of the game and profited from them.

I have no sympathy for the people who willingly take their place in government or state bureaucracy, and unjustly benefits from their connections and privileges at the public's expense, yet end up getting burned because they broke the law or lost some power struggle no matter how otherwise unjust their treatment otherwise would be.
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Old 20th January 2020, 09:06 AM   #3
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Originally Posted by Puppycow View Post

Thirty per cent of Angolans live in poverty on less than $2 a day. Meanwhile, the country's wealth is being plundered by corrupt politicians.

And they say Africa is struggling to catch up with the West.
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Old 23rd January 2020, 05:54 PM   #4
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Got an update here:
Isabel dos Santos: Banker found dead in Lisbon
Quote:
A banker implicated in the embezzlement and money-laundering case against Africa's richest woman, Isabel dos Santos, has been found dead in Lisbon.

Nuno Ribeiro da Cunha, 45, managed the account of oil firm Sonangol, formerly chaired by Ms Dos Santos, at the small Portuguese lender EuroBic.

His death, on Wednesday, was reported on Thursday soon after Angolan prosecutors named both as suspects.

Ms Dos Santos denies alleged corruption revealed by leaked documents.

Mr Da Cunha was found dead at one of his properties in Lisbon. A police source told Portuguese media that "everything points to suicide".
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