The son of Angola's former president Jose Eduardo dos Santos has been charged with fraud linked to a $500 million transfer executed when he ran the country's sovereign wealth fund, prosecutors said Monday. Jose Filomeno dos Santos is accused of "fraud, misappropriation of funds, money laundering and associating with criminals," deputy chief prosecutor Luis Benza Zanga told a media conference.
Nicknamed "Zenu", Filomeno dos Santos was appointed to head the $5 billion oil-fuelled sovereign fund by his father in 2013 but then was sacked by President Joao Lourenco, who took power in January. Former central bank governor Valter Filipe da Silva was charged alongside Filomeno dos Santos, Zenga added. The suspect transfer was made from the fund's account with the central bank to a London branch of Credit Suisse, but the money was later returned to Angola.
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