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Isabel dos Santos goes to court against consortium of journalists

Businesswoman Isabel dos Santos revealed this Monday that she will take legal action against the consortium of journalists that released the "Luanda Leaks" investigation, reaffirming the lawful origin of the investments she made in Portugal.

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"I refute the unsubstantiated allegations and false assertions and I inform you that initiated the proceedings for the legal actions against ICIJ [International Investigative Journalism Consortium] and ICIJ partners, which will be conducted by the international law firm Schillings Partners", revealed, in a statement, Isabel dos Santos.

The businesswoman, accused in Angola of mismanagement and embezzlement of funds by the state oil company Sonangol, considers that she was "the target of a campaign [...] orchestrated by several media outlets".

"Images and documents, misinterpreted and allegedly based on e-mails criminally obtained through hacking, were selectively used to build a misleading narrative about my companies, investments and work in general," she said.

Isabel dos Santos regrets what she considers "irresponsible actions by some journalists [...] who have unleashed a human tragedy and neglected respect for the right to privacy".

The businesswoman, who after the revelations of the journalistic investigation has announced her intention to sell her stakes in several Portuguese companies, guarantees that none of these investments were made with "funds of illicit origin".

"The investments made in Portugal were constituted by legal funds, having been respected the procedures of the National Bank of Angola (BNA) with regard to the capital export licensing", she said. "The companies I operate with are legitimate, pay taxes, and none have ever been convicted of criminal activity," added Isabel dos Santos.

Among the investments, he highlighted the business relationship with Portugal Telecom Ventures, adding that the partnership in Angola generated more than one billion euros in dividends.

Isabel dos Santos also considered that the law on the repatriation of capital from Angola "does not apply to lawful funds" and "duly licensed by the authorities", rather it aims at "funds of criminal origin".

According to the journalistic investigation, Isabel dos Santos set up a scheme that allowed her to divert more than 100 million dollars to a company based in Dubai, Matter Business Solutions.

Regarding this specific accusation, Isabel dos Santos said in the statement that the said company functioned as responsible for the coordination of the various international consultants who worked on the restructuring of Sonangol, including, among others, BCG, PWC, McKinsey and VdA.

"These international consultants worked with Matter Business Solutions in their capacity as transversal coordinator of the Sonangol Group restructuring project and received payments of approximately 90 million dollars, made by Matter Business Solutions", said Isabel dos Santos.

Therefore, he stressed, "the information that Matter is a phantom company that unjustifiably received more than $ 100 million is particularly misleading and manipulative".

The businesswoman added that the consultancy and support for the restructuring of Sonangol took place over 18 months in more than 20 companies in the group, having "contributed to generating positive results" in the group.

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