Angola recovers $5bn of stolen funds

Angola’s justice minister, Francisco Queiroz, says the country has recovered in excess of $5bn stolen from the state this year. 

The minister said this includes $3bn siphoned off from the sovereign wealth fund. However, he accused other countries of obstructing Angola’s efforts to track down the stolen funds. 

The son of Angola’s former President Jose Eduardo dos Santos previously headed the sovereign wealth fund and is now on trial for corruption. Jose Filomeno dos Santos denies the charges, which allege that he helped expedite $0.5bn out of the country during his time at the head of the wealth fund. 

Mr Dos Santos appeared before Angola’s Supreme Court last Monday, along with three co-defendants. All face charges of money laundering and embezzlement and have pleaded not guilty.

Credit photo: Reuters | Herculano Coroado