Assets of Angolan Billionaire Frozen in London Amid Corruption Allegations

Angolan billionaire and former president’s daughter Isabel dos Santos lost a London court battle to prevent the freezing of £580 million ($734 million) of her assets, claiming a political vendetta behind the accusations.

Unitel, an Angolan telecom giant, accuses Dos Santos of using her position at the company to secure $400 million in loans for another company, Unitel International Holdings, with terms allegedly benefiting her personally.

Dos Santos vehemently denies the accusations, calling it a “political feuding” fueled by Angola’s current president. She claims the freezing order stems from her efforts to “root out corruption” during her time running the country’s state oil company. Critics have long accused her of exploiting resources for personal gain, charges she has strongly refuted.

Despite frozen assets in other countries, the court deemed an additional freeze necessary, requiring further asset disclosure from Dos Santos by January.