Angola: second instance of coercive recovery of embezzled funds
- April 16, 2019
- - 5:30 pm
Angola’s National Directorate for Preventing and Combating Corruption (DNPCC) recovered $286 million in embezzled funds being managed by the China Infrastructure Fund (CIF)-Angola. The recovery represents the second instance that the Angolan government has employed coercive measures and restored control over state assets. In both cases, the Lourenço administration confronted politically exposed persons who held high office in the preceding government, and while the asset recovery is for some a deeply controversial affront, the seizures demonstrate the Angolan president is consolidating political and economic reforms, a year and a half after succeeding into the presidency. The $286 million that had …
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