Legal Fees
The money transfer served as an advance payment to a company created by the defendants to set up a financing operation of more than $30 billion through a so-called strategic investment fund, according to the Angolan news site Novo Jornal. British authorities returned the money to Angola after the transfer was detected. The government spent more than $10 million in legal fees to recover the funds, Novo Jornal reported, citing an official from the public prosecutor’s office. Jose Filomeno headed Angola’s $5 billion sovereign wealth fund from 2013 until January last year, when he was dismissed by his father’s successor, President Joao Lourenco. He is among several prominent figures who’ve lost influential positions since Lourenco took the helm of Africa’s second-biggest oil producer two years ago. Lourenco, who has made battling graft a cornerstone of his government, has rejected allegations he is conducting a witch hunt against the family of his predecessor and its allies. Angola is ranked one of the world’s most corrupt nations by Transparency International.DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
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