The London High Court has frozen assets valued at $734 million belonging to 50-year-old Isabel dos Santos, Africa's former richest woman. The freeze follows her loss in an extended legal dispute with Angolan telecoms company Unitel International Holdings (UIH).
UIH sought damages of $733 million (£580 million) related to financial decisions dos Santos made during her directorship at the company in 2012 and 2013. Dos Santos, daughter of a former president, denied the allegations, framing the court case as a political campaign against her by the Angolan government.
The court documents reveal that Unitel is now effectively controlled by the Angolan State.
Despite dos Santos' assertion that the loans were approved in good faith, the High Court granted a freezing order, indicating potential worldwide repercussions. Meanwhile, dos Santos, once considered Africa's wealthiest woman, faces scrutiny for assets including UK property worth up to £33.5 million ($42 million) and property worth $95 million in Monaco and Dubai.
The court is yet to decide the terms of the order, warning dos Santos about the global scope of the freezing order.
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