Isabel dos Santos, the oldest child of Angola’s former president José Eduardo dos Santos who ruled Angola from 1979 to 2017, has been accused of money laundering and embezzlement by Angolan prosecutors.
The accusations were made by Angolan Attorney General Helder Pitta Gros, who said the crimes took place whilst she was the chairman of state oil company Sonangol.
Gros called for Dos Santos to return to Angola from the UK, where she currently resides, to face criminal charges.
Dos Santos has denied the accusations.
Prosecutors say she and her associates owe the state over $1 billion which they seek to recover.
Angolan authorities will now conduct an investigation into her finances to see if she will be formally charged with a crime.
Dos Santos was appointed head of Sonangol in June 2016 by her father, president José dos Santos. She was fired from this post in 2017 by her father’s successor.
Portuguese bank, EuroBic, where she is known to have an account, has announced they will no longer do any business with Dos Santos.