Unitel sues Isabel dos Santos company as her corporate empire continues to crumble
Luanda Leaks showed how the mobile company became a cash cow for the Angolan billionaire. It’s now seeking repayment of loans totalling $430 million. December 17, 2020 An Angolan walks by the a shopping mall with a Unitel advertisement in Angola.
Angola’s largest mobile phone provider has sued a company controlled by billionaire Isabel dos Santos after it stopped repaying loans following a cash crisis deepened by the Luanda Leaks investigation.
In paperwork filed in a London court in October, Unitel alleged that dos Santos’ Dutch company, Unitel International Holdings BV, or UIH, defaulted on loans issued from 2012 to 2013. Unitel is seeking the immediate repayment of more than $430 million.
By Tristan Jenkinson, International Compliance Association 2020-12-16T16:48:00+00:00
As the compliance world continues to evolve, the skill sets needed by compliance staff are changing. The ability to run investigations effectively and efficiently is now highly prized, and key skills, such as understanding the use of technology like eDiscovery and digital forensics, will be among the most fundamental for practitioners in the years ahead.
Recent years have seen an increasing number of internal investigations around the world. This is the result of multiple factors, including heightened regulatory scrutiny, the growing use of deferred prosecution agreements, and a cultural shift within regulated companies to support a “speak-up” and “listen-up” culture.
Africa/Global - State of Tax Justice 2020 allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
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
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Although Ethiopias federal government has declared the end of
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How do we understand the war in the context of Ethiopias political and constitutional crisis?