Ten Maltese companies used as vehicles to steal millions of dollars of public funds in Angola
At least 10 Maltese companies were used by Isabel dos Santos, the most affluent women in Africa, for the purpose of stealing hundreds of millions of dollars from public funds.
From an investigation carried out by the International Consortium of Investigative Journalists, (the ICIJ), it transpired that dos Santos and her husband have stakes in more than 400 companies and their subsidiaries in 41 countries, including Malta, the Netherlands and British Virgin Islands. It turns out that dos Santos distributed the money she stole from public entities in Angola, to these secret jurisdictions.
The ICIJ explained that from a leak of more than 715 000 documents it results that there are major shortcomings in the regulatory systems around the world, which inter alia enabled companies to offer services to the most powerful people in the world without any scrutiny.
Isabel dos Santos is the daughter of former dictator of Angola – a country full of natural resources. Dos Santos referred to these allegations as false saying they were motivated by the Angola Government. Dos Santos is being investigated by the authorities in Angola on allegations of corruption and her assets have been frozen.