José Filomeno dos Santos, also known as Zenu, spent seven months in jail over the corruption allegations before being freed in March. Jose Filomeno de Sousa dos Santos (born 9 January 1978) is an Angolan businessman, and the son of Angola's former President José Eduardo dos Santos, who ruled the country from 1979 to 2017. Following his dismissal, Dos Santos was arrested in connection with the authorisation of a transfer of $500 million to a British bank, which froze the funds,The transfer is reportedly part of negotiations for a $30 billion concessional lending facility for Angola, the money being returned to the country’s central bank.The move to criminalise the loan negotiations with foreign lenders is seen as a means to undermine the political clout of the previous administration with the populace while at the same time shore up support for the new administration within the ruling party MPLA. The case has revealed the existence of a previously unheard of political tug-of-war in a country under political transition.His father dos Santos, José Eduardo dos Santos, now lives in Barcelona.In August 2013, dos Santos was ranked at number 26 out of the top 100 wealth fund chiefs in the world. Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January. Angolan President João Lourenço has moved against those affiliated to José Eduardo dos Santos, his predecessorGovernment seizes stake in engineering firm Efacec Power Solutions from Angolan investor Isabel dos SantosDos Santos is accused of diverting billions of dollars from state companies during her father nearly 40-year ruleSon of former Angolan president found guilty in $500m corruption case Valter Filipe, former governor of the National Bank of Angola, was sentenced to eight years in the case.António Samalia Bule, former director of Banco Nacional de Angola, and Jorge Gaudens Sebastião, a businessman and a friend of Dos Santos jnr, got five years and six years respectively.Former president Dos Santos appointed close allies and kin to key positions but his successor, also a member of the ruling People’s Movement for the Liberation of Angola (MPLA) party, has rooted out some of his loyalists and initiated anti-corruption trials against senior members of the former regime.Would you like to comment on this article or view other readers' comments? José Filomeno dos Santos and his co-accused helped spirit $0.5bn (£0.4bn) out of the country during his time as head of Angola's Sovereign Wealth … Jos é Filomeno dos Santos, 42, was implicated of attempting to embezzle as much as $1.5 bn (₤ 1.1 bn) while managing the $5bn fund from 2013 to 2018. He was the chairman of Fundo Soberano de Angola (FSDEA), Angola's sovereign wealth fund, was appointed to the board in 2012, and succeeded Armando Manuel as Chairman in June 2013. Dos Santos, 42, was summoned before court in December over allegations he tried to embezzle up to $1.5 billion (1.3 billion euros) from the fund, which he oversaw from 2013 to 2018.

The case concerns a plan to set up a $35bn investment fund proposed by two foreign players, one of whom was a friend of José Filomeno dos Santos and appeared alongside him at the trial, Jorge Gaudens Pontes Sebastião. Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January. Jose Filomeno dos Santos, the former head of Angola's sovereign fund, is accused of misappropriating millions of public funds. This project, authorised by José Eduardo dos Santos when he was head of state, gave rise to fraud aimed at diverting, via three transfers of $500m, a total of $1.5bn of … David Shapiro from Sasfin Securities and Wayne McCurrie from FNB Wealth & Investments spoke to Business Day TVRecent events show that the ruling party has made a farce of the president’s undertaking to root out corruptionThe Western Cape premier says people need to do their bit to save jobsMichael Avery talks to a panel about political agendas during the pandemicDeutsche Boerse selects DAX members based on valuation and volume of shares traded rather than company fundamentalsHost Mudiwa Gavaza is joined by Sandras Phiri, CEO of Startup Circles; and Lelemba Phiri, Enygma Ventures’ operating partnerA Brazilian study finds only about 0.5% of 1,551 retail traders earned more than the average bank tellerThe $600 a week unemployment benefit lapsed on July 31 with confusion over a new $400 amount, of which states are expected to cover $100Coach Mosimane says his squad “must start proper” and should not have to “chase the game again”A tongue-in-cheek look at the most masculine vehicles you can buy, but we know the gals love 'em too A court in Luanda has sentenced the son of former Angolan president His trial has been the most high profile case to date under the anti-corruption drive of President Joao Lourenco, who took the helm after dos Santos stepped down in 2017 after a near four-decade grip of power in Africa's second-biggest oil exporter.Judge Joao Pitra found Dos Santos guilty of fraud, embezzlement and influence trafficking, Lusa said.

He was …