Cyprus court rejects bid to unfreeze accounts linked to Angola’s former President

Economy bankssupreme courtTop News Cyprus court rejects bid to unfreeze accounts linked to Angola’s former President Cyprus Court Rejects Bid To Unfreeze Accounts Linked To Angola's Former President Relevant News Cyprus court rejects bid to unfreeze accounts linked to Angola’s former President 3 August 2026 Sketching Summer 2026 brings life drawing and painting to Polis Chrysochous 3 August 2026 Police hunt suspect after woman films him starting fire in Kornos 3 August 2026 Michalis Hadjivasilis 3 August 2026 FacebookXWhatsAppEmailPrintViber Cyprus’s Supreme Court has dismissed an application by five FBME Bank account holders seeking to overturn a freezing order on accounts allegedly linked to former Angolan president José Eduardo dos Santos and his daughter, according to sworn statements submitted by members of the Unit for Combating Money Laundering (MOKAS). The case centres on FBME Bank Ltd’s Cyprus branch, which closed 12 years ago and has had a liquidator appointed since 2023, but which remains before the courts. Details of the corruption offences under investigation by Angolan authorities came to light through an ex parte application filed by five applicants, one natural person and four legal entities, who hold accounts at the branch. The applicants had sought the Supreme Court’s permission to file for a Certiorari order to quash a temporary freezing order issued on June 16, 2026 by Nicosia District Court, along with a suspension of that order pending the outcome. According to today’s Supreme Court decision, MOKAS is executing a request for judicial assistance sent on May 26, 2026 by the competent authorities of the Republic of Angola to Cyprus’s Ministry of Justice and Public Order. The request was forwarded on June 8, 2026 to the Attorney General for execution, in the part relating to the freezing of assets and illicit proceeds. A sworn statement by a MOKAS member says Angolan authorities are seeking the freezing of the specific accounts the applicants hold at FBME’s Cyprus branch, which are allegedly linked to Isabel dos Santos, daughter of former Angolan president José Eduardo dos Santos. She is allegedly implicated in numerous serious corruption, fraud and embezzlement scandals in Angola that have brought her immense wealth, according to the affidavit. Angolan authorities have already requested an Interpol red notice for her arrest. The affidavit also states that Angolan authorities have reasonable suspicion that the companies holding the accounts in question are shell companies, with the real beneficiaries being the accused, her mother and her late husband. Some of the frozen accounts contain millions of euros. Supreme Court judge Ioannis Ioannides disagreed with the applicants’ argument that approving the freezing application and issuing the order had reversed both the evidentiary and substantive burden of proof. He also rejected their argument that the Attorney General’s proceedings amounted to action against a company under liquidation, saying the interim measure in no way affects the interests of the bank or its depositors, and concerns only the freezing of the specific accounts the applicants hold at the bank. In dismissing the application, the court noted that the applicants had, and still have, the option of pursuing proceedings before the lower court, where they could potentially secure the setting aside or variation of the temporary order. It found that full and equally effective relief could be provided by the lower court, adding that the applicants would still retain the right of appeal, which could be expedited, if the lower court’s decision did not satisfy them. Subscribe to our Newsletter Latest News Sketching Summer 2026 brings life drawing and painting to Polis Chrysochous Police hunt suspect after woman films him starting fire in Kornos Beach access dispute in Amathounta turns violent, man arrested Poisoned bait blamed for spate of cat deaths in Giolou Christodoulides puts himself at UN’s disposal for August, briefs National Council Cyprus intelligence chief’s Beirut trip: what Lebanese media report Blood Bank appeals for donors as daily needs climb to 350 vials Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.