Africa’s richest woman, Isabel dos Santos is under scrutiny by her bank and the Angolan government.
A leak of more than 700,000 documents showed how Isabel, the daughter of Angola’s former president,
exploited the country’s wealth to enrich herself.
EuroBic, a Lisbon-based arm of a bank where Ms. dos Santos is the biggest shareholder, said on Monday that it was ending its “commercial relationship” with her and investigating transfers worth tens of millions of dollars.
Angola’s attorney general said on Monday that the government would “use all possible means” to bring Ms. dos Santos back to the country, where she faces possible corruption charges.
Ms. dos Santos assets were frozen last month, along with her husband’s and those of a Portuguese business associate, Agence France-Presse reported.
The Angolan government said the three were responsible for more than $1 billion in lost government money.
The leaked documents, which include emails, invoices, slide presentations and contracts, provided a paper trail showing how Ms. dos Santos and her husband, Sindika Dokolo, amassed a fortune of more than $2 billion through their stakes in vital Angolan industries like telecommunications, diamonds and construction. Angola, rich in oil and diamonds, is nevertheless impoverished, with one of the world’s highest infant mortality rates and endemic corruption.
The leaked materials also revealed that in November 2017, when Ms. dos Santos was chairwoman of Angola’s state oil company, Sonangol, more than $57 million was transferred from that company to the bank account of a Dubai company owned by a friend of hers.
About $38 million was transferred in the hours after Angola’s new president at the time — her father’s successor — announced on Nov. 15, 2017, that she was being fired from Sonangol, the documents show.
Those transfers drained Sonangol’s account at EuroBic, the European arm of an Angolan bank where Ms. dos Santos owns a 42.5 percent stake. In EuroBic’s statement on Monday, cutting commercial ties with Ms. dos Santos and associates of hers, the bank said it would audit the November 2017 transfers and report its findings to Portugal’s central bank.
José Eduardo dos Santos, Isabel’s father, led until September 2017.