Angolan Billionaire Isabel dos Santos Faces £580m Asset Freeze

Isabel dos Santos, an Angolan billionaire and Africa's wealthiest woman, has lost a legal battle to prevent her assets from being frozen. She is being sued by telecoms company Unitel for $733 million in damages related to financial decisions she made as a director of the firm. Ms Dos Santos claims the case is politically motivated. Critics have accused her of using her position to enrich herself at the expense of the state, an allegation she strongly denies. Leaked documents have also alleged that she acquired her wealth through corruption and exploiting resources in Angola. Her father, former president Jos\u00e9 Eduardo dos Santos, ruled Angola for 38 years and was succeeded by Jo\u00e3o Louren\u00e7o, who has prosecuted several members of the Dos Santos family on various charges. The case against Ms Dos Santos involves loans made by Unitel to another company, Unitel International Holdings (UIH), which she owns and controls. Unitel alleges that the loans were made at below-market rates and without sufficient security. Ms Dos Santos denies the allegations and argues that the freezing order is part of a political campaign against her. The court has granted a freezing order, and Ms Dos Santos' assets include properties in the UK, Monaco, and Dubai. Her estimated fortune of $2 billion has put her on Forbes' list of the wealthiest people, but she is currently excluded due to the ongoing disputes over her assets.