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Former President’s daughter ordered to repay US$500 million

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Jose Eduardo dos Santos

Former President’s daughter ordered to repay US$500 million. The Netherlands Arbitration Institute, part of the International Court of Arbitration, said that the transaction in which Ms Dos Santos had received the shares in Portuguese oil and gas firm Galp was illegal.

Former Angolan President, José Eduardo dos Santos’ daughter, Isabel Dos Santos, has been ordered to surrender oil and gas shares worth $500m (£360m) by an international court.

It ordered that she must return them to the Angolan energy group Sonangol. Ms Dos Santos, who was once known as Africa’s richest woman, has faced a slew of allegations that she plundered state assets and sent the money abroad.

She denies the allegations and says she is the victim of a political witch-hunt.

Source – NewsDay

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