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LONDON (Reuters) - An Amsterdam court on Thursday froze a stake held by Exem Energy, a company owned by the husband of Angola’s former first daughter Isabel dos Santos, in a dispute over a deal struck with Angolan state oil firm Sonangol in 2006.
FILE PHOTO: Cars are seen infront of the head office of Angola s state oil company Sonangol in the capital Luanda, Angola. June 7,2016. REUTERS/Ed Cropley/File Photo
The dispute, which is being heard in Amsterdam after both sides agreed on arbitration, concerns Sonangol’s sale 14 years ago of a 40% stake in holding company Esperaza to Exem, which is owned by Isabel dos Santos’ husband Sindika Dokolo.
Isabel dos Santos has built her empire across sectors: from an investment in a beach bar to stakes in oil, banking, finances and telecommunications, proved businesswoman. Her career as an entrepreneur would have been inspiring if it wasn’t for the fact that her father, José Eduardo dos Santos, was a dictator in Angola for 38 years. Dos Santos had access to high-powered networks and riches fuelled by public funds amassed by her father during his tenure. While she created her own multibillion-dollar empire, the Luanda Leaks – documents mined by the International Consortium of Investigative Journalists – show how Dos Santos used tax consultants, lawyers and accountants to siphon millions out of Angola. Today, her empire is finally crumbling as she faces allegations of corruption, money laundering, and fraud. – Bernice Maune