LONDON – Isabel dos Santos, the billionaire daughter of former Angolan president Jose Eduardo dos Santos, faced a setback on Wednesday as London’s High Court ruled against her in the legal battle over freezing up to £580 million ($735 million) of her assets.
The case was brought by Unitel, a telecoms operator in Angola, where dos Santos has faced legal challenges and asset seizures.
Unitel sought a worldwide freezing order over dos Santos’s assets in connection to loans made during her tenure as a director of the company to Dutch firm Unitel International Holdings (UIH) in 2012 and 2013.
The loans were used to fund UIH’s acquisition of shares in telecoms companies.
Despite dos Santos’s argument that the order was unnecessary, citing freezes and seizures in Angola and Portugal, Judge Robert Bright determined the freezing order against her as “both just and convenient.”
Dos Santos, who amassed significant holdings in Angolan and Portuguese companies, contended in court that she was a victim of a “political campaign” orchestrated by the Angolan government.
She also accused Unitel of contributing to UIH’s inability to repay the loans by allegedly participating in Angola’s unlawful seizure of UIH’s assets.
Forbes Magazine valued dos Santos’s fortune at $2.1 billion in 2013, naming her Africa’s richest woman.
However, legal challenges have mounted against her, and in January 2020, she was indicted for various financial crimes, including money laundering, influence peddling, harmful management, and forgery of documents.
The charges relate to her tenure at Sonangol, where she served during her father’s regime.
Dos Santos, forced out of her position at Sonangol months after her father stepped down in 2017, has faced increasing scrutiny and legal battles both in Angola and internationally, highlighting challenges for high-profile figures with significant wealth tied to political connections.
