Angolan Ex-President’s Son and Others Suspected of $500 Million Central Bank Fraud Using U.K. Lenders

The former Angolan president’s son and a former central banker are suspected of using accounts at HSBC Holdings PLC and Standard Chartered PLC in an attempt to defraud the country’s central bank by transferring $500 million through these U.K.-based lenders, people familiar with the matter said. The prosecutor’s office in Angola said the money was transferred from Angola’s central bank, allegedly to guarantee a $30 billion financing deal, according to a statement posted on the government website Wednesday, The Wall Street Journal reported. According to one of the people familiar with the matter, a document showed the $500 million went to a Credit Suisse account, but that document was forged. Instead, the money turned up at an account at HSBC, where it was flagged to authorities and frozen, said the people familiar with the matter. Earlier this week, Angolan prosecutors named as suspects in the allegedly illegal transfer from the central bank, José Filomeno dos Santos, the son of former President José Eduardo dos Santos, and four others, including the former Angolan central bank governor, Valter Filipe da Silva, according to the government statement. Read more. (Subscription required.)