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25 Mar 2019 12:37
Jose Filomeno dos Santos, nicknamed Zenu, was appointed head of the $5-billion fund in 2013 by his father, president at the time.
The son of former Angolan president Jose Eduardo dos Santos was released from prison on Sunday where he had been held for seven months in an embezzlement case, officials said.
Jose Filomeno dos Santos, who was accused of attempting to steal $1.5-billion during his time at the helm of Angola’s sovereign wealth fund, “has been free since Sunday afternoon,” penitentiary spokesman Menezes Cassoma said.
Dos Santos’s lawyer Benja Satula said the legality of his client’s detention had expired weeks ago.
On Friday an associate, Jean-Claude Bastos de Morais, who was arrested at the same time as Dos Santos, was freed without charge.
He is the president of Quantum Global, which was the main manager of the sovereign wealth fund.
Prosecutors announced Friday that they had recovered “all the financial and non-financial assets of the Angolan Sovereign Fund, which was under the control of Quantum Global,” or $2.35-billion domiciled in British and Mauritian banks and another $1.0-billion in assets.
President João Lourenço, who came to power in September 2017, fired him in January 2018.
Jose Eduardo dos Santos stepped down after dominating the country’s politics for nearly four decades.
He gave control of strategic sectors of the economy to close allies — including the state oil giant to his daughter Isabel.
© Agence France-Presse
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