Zimbabwe News and Internet Radio

Tycoon jailed in Angola over $900m scandal

A court in Angola has sentenced Carlos de São Vicente, a businessman with links to two former presidents, to nine years in prison for stealing $900m (£682m), the private Novo Journal reported.

The charges included embezzlement, tax fraud and money laundering.

His defence team intends to appeal Thursday’s ruling.

“Mr De São Vicente continues to contest all the accusations made against him and to assert his innocence,” his lawyers told US news site VOA.

Mr De São Vicente was in detention for more than a year before his court case began in February.

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A son in-law to Angola’s first President Agostinho Neto, he was given the monopoly of insuring the country’s lucrative, state-controlled oil industry during the presidency of José Eduardo dos Santos.

The government of incumbent President João Lourenço has pursued several corruption cases against people linked to Mr Dos Santos.

However, the anti-graft campaign has also drawn criticism for being used as a political weapon. BBC News