It's most unfortunate that Isabel dos Santos didn't draw inspiration from British-Sudanese billionaire Mohammed Ibrahim who set up the Prize for Achievement in African Leadership. One can only conclude that she isn't of Mr. Ibrahim's caliber.
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The Angolan government should sue the western companies like McKinsey, PwC, BCG, etc that were enablers of this scheme that deprived the Angolans of their wealth. These companies always manage to get out unscathed of these schemes they play at perfection. It is time that western countries play their part in helping African countries really fight corruption
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It’s about time!
Robbing the people of her country is a way of life for the ruling class.
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Other recent articles on Ms. dos Santos have exposed a much deeper picture of her corruption and the complicity of the "consultant" firms who enabled her family's systematic looting of their country.
And she is widely believed to have hidden huge sums in the usual offshore havens (with the assistance of those consultants) so that even if some of her visible assets are frozen and/or confiscated, she will remain enormously wealthy.
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It is high time to expose the hypocrisy and the role of Western Banks and Financial Institutions in facilitating corruption while providing lip service to good governance in 3rd World Country.
McKinsey, PricewaterHouseCoopers should be prosecuted and required to pay back all their consulting fees to the Angolan government.
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I would guess Santos, after deep reflection into her actions that decimated the country’s economy, increased poverty, malnutrition, and death, feels great remorse that she got caught.
The American corporations that aided and abetted Santos feel just awful that she got caught.
Hitchens proclaimed is inno God, however,
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I think it's sexist to pick on this woman for draining her nation's wealth into her pocket. Post Colonial Africa is rife with shining examples of men dong the same. Why single her out?
Besides, her Dad was President of Angola and, as the world in general know, Presidents are above the law, cannot be investigated and can do whatever they want. Just ask Xi, Putin or Trump.
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Angola has its own Evita.
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Is there any wonder why too many African countries are mired in poverty? It's because they're being looted by the person or family that runs that country.
Promoting this woman as "Africa's first female US dollar billionaire" (quote is from Wikipedia) is abhorrent. She's nothing more than a successful thief.
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Since she stole all of her money, she's not really the "richest" woman in Africa, is she? Perhaps you should call her the "most corrupt".
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"Civilized" countries are also rife with corruption. The Savings and Loan scandal and its big brother, the 2008 meltdown, are good examples with regard to the US and western financial organizations. Not to mention the current US President and cronies.
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@Peter Millard
Yes, but in "civilized" countries, there's at least a chance, however small, that the bad guys will be brought to book. Occasionally, in a timely manner, and with some restitution. Africa doesn't have a good track record regarding this. I know, the truth hurts.
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Let's talk about Switzerland.
Reading articles about such corruption makes me think about the Swiss banking system.
I still wonder how Switzerland can be considered a "respectable" country.
The Swiss are the biggest enablers of such corruption in developing countries.
The Swiss give the crooks (and terrorists) a convenient way to secretly stash stolen money.
There is so much misery in under-developed countries (dirty water, inadequate sanitation, lack of law and order, lack of opportunity ....) because the Swiss have the back of the those who are robbing their own people (and stashing their money in Swiss bank accounts).
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I'm reasonably confident that we will get similar result in almost all the 3rd world developing countries where "success" in any sector basically depends on one's ability to exploit prevailing socio-political culture of corruption and crime more than anything else. Corruption include more feudal/autocratic society, rampant nepotism, strict socioeconomic hierarchy and demand of personal loyalty without slightest regard for the nation and/or the laws, and ability to take laws into own hand for a fee- in cash (as bribe) or in kind (undue or illegal political and/or personal help.) Besides rote memorization based education soley geared to maximizing test score, coercing/bribing school authority/teachers, cheating in exams (purchasing "leaked" question papers by authority included), private coaching etc are also very common to score high marks and succeed in academic world there (.
That's why civilized developed countries need to be really cautious when they attract such "successful" and/or rich people from such countries either as an investor or in academia. Such people would be a great liability for the host country and also would extend their influence to their former home country and other nations.
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@Bonku You know this same level of corruption happens in first world, 'developed' countries too, right? They just hide it better.
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@MY, If that were the case they or most of them would not become or remain a developed country.
Yes, there are corruption in every country, there are crime in every country. But it's the extent that matters.
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Buying stolen goods even without being aware of the fact that it is stolen can still end up in stiff fines or prison sentence . For some reason western banks can keep the looted goods and benefit from it . 3 rd world countries from Indian subcontinent and ,Latin America, Eastern Europe and Africa have seen trillions transferred illegally from the countries to the western banks .
A simple law barring and banning those will put an end to the practices .
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@KAH
If a multinational bank receives huge sums from dubious sources, that is good business. If you knowingly receive a stolen watch, that's a crime. It all just depends on your perspective.
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