Paradise Papers: Dos Santos’ son made almost a billion rand from people's fund
Jose Filomeno (39), was put in charge of Angola’s sovereign wealth fund that generated $90 million between May 2014 and the end of 2015.
JOHANNESBURG - The Paradise Papers which are currently leaking the financial bolt holes of the world’s super-rich have revealed a friend of former president Eduardo dos Santos’ son made over half a billion rand in profit from just 20 months of managing the Angolan people's fund.
Angolan-swiss citizen Jean-Claude Bastos says his takings pale by comparison with the earning he’s generated for the fund.
Bastos is a close friend of former president Dos Santos’ 39-year-old son, Jose Filomeno.
He was put in charge of Angola’s sovereign wealth fund that generated $90 million between May 2014 and the end of 2015.
Bastos salted away $40 million in profit for himself and invested the rest in the British Virgin Islands.
While rich Angola tops the list of Transparency International’s corrupt countries, the majority of Angolans live in abject poverty and has among the highest child mortality in the world.