By Sonia RolleyPosted 21-01-2020Changed 21-01-2020 at 17:41
Angolan justice investigates embezzlement of relatives of José Eduardo dos Santos, leak of more than 715,000 confidential documents sheds new light on business relations between Isabel dos Santos, daughter of ex-chief and her husband Sindika Dokolo. According to the "Luanda Leaks", the latest investigation coordinated by the International Consortium of Investigative Journalists (ICIJ), the couple spent $ 55 million to buy a luxury apartment in Monaco. Investigation.
On the ground floor of "Little Africa" is the very first Dolce & Gabbana store in the Principality of Monaco. Soft lights, pink or striped gold sofas, in a bling-bling decor mixing mirrors, gilding and marble, these are 800m2 spread over three floors, dedicated to the creations of two Italian designers dear to the heart of the daughter of the former Angolan president and extremely rich Isabel dos Santos. On the upper floors, luxury reaches its peak: private rooftop pool, covered pool and spa with massage rooms, a duplex and huge apartments, one per level, terraces with thick travertine floors and sliding windows with views of the azure sea of the Mediterranean.
The modern building located in the historic "Golden Square" of Monte-Carlo, impresses above all with an imposing security system, 24-hour security, cameras, badges and smoked windows to guarantee anonymity. There is even a six-level underground car park with allocated spaces, which cars can access by lift. " Here, the key word is confidentiality, " says the vigil of "Little Africa", before refusing entry to the hall of this residence among the most exclusive of the Rock.
In a country town of two square kilometers among the most expensive in the world, the 6th floor of a real estate project like "Little Africa" costs more than 50 million euros. Price for a single apartment, composed of five main rooms: entrance hall, lounge - dining room opening onto a terrace to the south, guest cloakroom and water closet, library with cloakroom and shower room, master bedroom with bathroom and dressing room, two bedrooms, each with dressing room and bathroom ”, details the sales contract dated December 22, 2015. This“ lot 75 ”is sold with two“ service rooms ”to house the domestic employees and four parking spaces. This contract is part of the 715,000 documents contained in the "Luanda Leaks".
Sindika Dokolo behind the purchase
When Isabel dos Santos and Sindika Dokolo wish to acquire this luxury accommodation in Monaco, they create a new front company in Malta, their privileged financial place to invest in Europe. The buyer will be called Athol Limited, a discreet company registered on November 8, 2012, just a few weeks before the sale. At the head, they put two of their trusted men, whose names punctuate the "Luanda Leaks": the Portuguese Jorge Manuel de Brito Pereira, a relative of Isabel dos Santos and Noel Buttigieg Scicluna, a Maltese lawyer specializing in banks and offshore companies, former ambassador of Malta notably to Denmark, one of the two homelands of Sindika Dokolo.
In December 2012, when Athol Limited reserved this exceptional property off plan, it was thanks to a “ long-term loan ” of 5 million granted by Sindika Dokolo to pay “the blocking indemnity” (Editor's note necessary to reserve the property still under construction). At the time, he was still the sole shareholder of the Maltese company. The Congolese businessman recognizes this: “ It is a real estate investment. We do not live in Monaco. There is nothing illegal, I do not see what there is to comment on. "
Two years later, Mr. Dokolo sold his 1999 shares at the price of one euro per share to his wife. The last one is attributed to the faithful among the faithful, Jorge Manuel de Brito Pereira. It is with the same type of financial arrangement - names and shell companies - that Isabel dos Santos and Sindika Dokolo have become owners of dozens of properties around the world, land and buildings in Angola, apartments in London, Dubai, Lisbon or a 1,842m2 villa facing the sea in Quinta do Lago, the most famous luxury seaside resort in the Algarve, in the south of Portugal.
This opaque entanglement of companies, Mr. Dokolo explains them by " the fear of political settling of scores ". " My family has always favored complex holding arrangements in order to be protected as much as possible from the spoliation of political powers ," he explains again, before adding that the latest events proved him right.
Over three million notary fees
In Monaco, the profession of notary is, like others, reserved for the approximately 9,000 Monegasques, largely a minority vis-à-vis the 30,000 foreign residents in their hometown. Me Nathalie Aureglia-Caruso inherited the office of her father and grandfather, located at the Winter Palace, a semi-residential building, semi-offices, adjoining "Little Africa". It is to this former deputy mayor of Monte-Carlo (1991-2006) that its promoter, a Monegasque company Fine Properties Monte-Carlo (FPMC SAM), seems to have entrusted all its affairs. We already find his signature in the columns of the Journal de Monaco when SAM PROTEA was renamed FMPC SAM in December 2012 after barely a year of existence. His name also appears at the bottom of the deed modifying the statutes of this company relating to the " allocation and distribution of profits ", registered on November 6, 2015. One month before the finalization of the sale with Athol Limited and the collection of last check of several tens of millions of euros, the shareholders of FMPC SAM decided to review the rules and to authorize themselves " interim dividends " when " the company (...) made a profit ".
In a few clicks, master Aureglia-Caruso could have lifted the relative anonymity enjoyed by the shareholders of the very young Athol Limited. Jorge Manuel de Brito, who signed the sales contract in December 2015 for more than $ 50 million, is already known to be close to the daughter of the Angolan president. " The largest billionaire in Africa uses fictitious Maltese companies to hold conflict diamonds ," headlined even the daily Malta Today a few months earlier, quoting Athol Limited by name. It was Forbes who awarded Isabel dos Santos the title of the richest woman in Africa since 2013, not without pointing out the advantages granted to this "daddy girl". Oil, diamonds, telecoms, banks, real estate, it is common knowledge that no sector escapes the "princess" of Angola. His father, José Eduardo dos Santos, has reigned with an iron fist since 1979 over the country eaten away by its contrasts, rich in resources, but poor in population.
According to the documents that ICIJ and its 36 partner media were able to consult, Me Nathalie Aureglia-Caruso received at least € 3,257,200 in fees from Athol Limited. This sum, although flirtatious, corresponds to the notary and registration fees fixed in the principality, ie 6% of the sale price. The Monegasque intermediary is not the only one to benefit from this expensive real estate transaction: in addition to the banks, the Banca Popolare di Sondrio (PBS, a Swiss bank) and the Portuguese Investment Bank (BPI), there are the providers service, all regularly employed by the couple, law firms, PLMJ and Ganado Advocates and Maltese accountants HRM International and Leading Edge (Malta) Ltd. The American audit giant, PricewaterhouseCoopers (PwC) is responsible for tax compliance operations. None of these structures alerted the Monegasque authorities to this transaction. " There was a buyer, a seller and we followed the procedure, " said one of these facilitators. “ We have no explanation to give, we are covered by professional secrecy. "
For the co-director of Athol Limited, Noël Buttigieg Scicluna, there was nothing to report. Questioned by the International Consortium of Investigative Journalists (ICIJ), he readily acknowledged on December 20, 2019 to be the director of a " number " of companies of the couple of former oligarchs. " There is no complex structure and absolutely no attempt to conceal the ultimate beneficial ownership of Ms. dos Santos, " he said. This former ambassador points out that the wealthy businesswoman was and remains a shareholder of banks regulated by the Bank of Portugal and by the European Central Bank itself. " Press articles have been trying for a few years to paint Mrs. dos Santos and her husband in a bad light, but, to my knowledge, nothing untoward has ever been put into action, " recalls Mr. Buttigieg Scicluna a few days before the announcement of the couple's assets and assets freeze in Angola. Since then, he has not answered questions from ICIJ and its partners.
" Monaco is not so far from Angola "
If the ten-story building is called "Little Africa", it is not because of Isabel dos Santos. Ideally located a stone's throw from a few historic gems - the Hôtel de Paris, the Salle Garnier and the gardens of the famous casino of Monte-Carlo- it owes its name to the astonishing tropical plants which multiply there thanks to the microclimate praised by the Monegasques . The building is designed by Isay Weinfeld, the Brazilian “starchitect” who won this rare market after a competition which attracted the biggest names: 11,500 m2 to be reinvented in the “Golden Square” of Monaco.
For ten years, this micro-state has become the Eldorado des dos Santos, like that of all entrepreneurs. After the coronation of Albert II, Monaco had announced that it wanted to invest at least 8 billion euros to gain sixteen hectares on the sea, not counting private projects like "Little Africa". In this 21st century, the principality is offering a luxury facelift.
In a discreet cafe very close to the Isabel dos Santos condo, an employee of an approved real estate agency is not surprised at anything: neither the sale price of the apartment nor the notary's commission, not even by the name of the owner. " The price per square meter has taken 50 % in ten years and is trading at around 60,000 euros on average, it is a very lucrative market and reserved for the wealthy of this world ", he explains, before add in a laugh: " If you are looking for a story, you have to look where the money goes. From what you explain, Monaco is not so far from Angola. Except that one in three inhabitants is a millionaire in the principality when one in three Angolans lives in extreme poverty.
Between a coffee and a croissant, the employee explains what he is referring to. He portrays the promoter of “Little Africa”, Fine Properties Monte-Carlo (FPMC SAM), as one of the last “nominees” of the “Casiraghi family” and of its business partner since 2004, Impresa Pizzarotti & CSpA, one of the oldest Italian construction companies. " To get a foothold in the principality, you need your inputs, national preference requires, that too is necessarily lucrative, " said the employee of a real estate agency, without going too far. In Monaco, it is even elevated to the rank of constitutional principle: " priority " is " assured " to Monegasques for access to public and private jobs.
The princely family beneficiary of the transaction
In the "Casiraghi family", the pioneer in Monaco is Stefano, speedboat racer, Italian socialite, businessman and second husband of Caroline of Monaco, eldest daughter of Prince Rainier III and the American actress Grace Kelly. Caroline's life, like that of her children, has always been the heyday of the celebrity press. What is written less is that the day after his marriage in 1983, the handsome Stefano founded Engeco SAM construction company which today claims the completion of nearly 70 construction or renovation works and dozens of million euros of turnover each year. It is also to him that we owe Monacair, which since 1988 manages the helicopter transport of VIPs from the principality and has been ensuring the air link between Nice and Monte-Carlo for a few years. " In Monaco too, sometimes it only takes a marriage to build an empire, " says the real estate agent. For lawyer of the sister company FPMC SAM, Me Gérard Baudoux, Engeco is a " significant operator on the place of Monaco " " among others", it "has not benefited or does not benefit from any privilege. "
When Stefano Casiraghi died in an offshore boat race on October 3, 1990, his children, Pierre and Andrea, were minors, but inherited the empire. They are introduced to business by their uncle, Marco Casiraghi, president or director of several of their companies. Even if Monegasque officials say they doubt it, the Casiraghi sons frequent the same circles as Isabel dos Santos and Sindika Dokolo. It is the international jet that criss-crosses the capitals, major investment projects in glamorous events. A few months before the first promise to purchase the luxurious Monaco condo in 2012 at FPMC SAM, the couple celebrated in Cannes the acquisition of De Grisogono. The eldest of Princess Caroline, Andrea Casiraghi, also attends the brand's annual celebration. His promised and future wife Tatiana Santo Domingo, herself a billionaire, accompanies him.
Were the couple and this member of the princely family of Monaco able to meet and sympathize there? The lawyer for FMPC is offended that the question can even be asked, describing this “ interference ” in the private sphere as “ astonishing ”. Me Gérard Baudoux indicates that " Messrs Pierre and Andrea Casiraghi have no connection with Mrs. Isabel dos Santos and / or Mr. Sindika Dokolo ".
There is no need to "Luanda Leaks" to discover the extent of the Casiraghi empire in Monaco, the annual report of Impresa Pizzarotti & CSpA in 2016 provides information on the volumes of money, public and private, brewed by Engeco and its nebula. There are " two prestigious real estate projects of" Little Africa "and the Exotic Garden, for a total amount of around 450 million euros each ", welcomes its experienced and yet minority partner.
That's not all. The Impresa Pizzarotti & CSpA report also mentions a “ cumulative amount ” of around 434 million euros for the participation of the Casiraghi-Pizzarotti duo in the “ sea extension ” project. A project which should allow Monaco to gain six hectares of land on the sea, and two new orders: the construction of a building for the Cap Fleuri retirement home which depends on the Princess Grace public hospital center and part of the renovation site “Sporting d'Hiver”, “ eight prestigious accommodation and commercial buildings located in the gardens of the Casino de Monte-Carlo. Le Rocher is reinventing itself with the Casiraghi family.
48 hours after the publication of the first revelations of the "Luanda Leaks", a Portuguese newspaper, L 'Espresso , announces the opening of an investigation in the principality. The information is confirmed by an " official of the Angolan criminal investigation service ", who is following the case in " close collaboration " with Interpol. On the side of the principality, an official is surprised and rectified: “ There is no investigation open in Monaco. According to information gathered by RFI, the public prosecutor's office rather issued a request via Interpol to find out the status of Ms. dos Santos and Mr. Dokolo.
Response rights :
Asked about the reasons why his client did not denounce this transaction given the identity of the buyers , FPMC SAM's lawyer, Me Gérard Baudoux, wonders about the " pernicious, or in any condition" of abusive cause, to assess the situation of the time based on contemporary elements and information. He assures that the " company dedicated to real estate promotion " has surrounded himself to manage the "Little Africa" project of " wise professionals in charge of verifying the regularity, in all their aspects, of the transactions, conventions and acts contained . "
The cabinet of Me Nathalie Aureglia-Caruso did not respond to RFI's requests.
Contacted by RFI, the government of the principality did not wish to react to individual facts, but promised sanctions in the event of breach of the provisions relating to money laundering.
When interviewed by the International Consortium of Investigative Journalists and its partner media, the US audit firm PricewaterhouseCoopers International Limited said it had " taken steps to end all work in progress for entities controlled by members of the dos Santos family ”. He said he had opened an investigation to respond to " very serious and disturbing allegations that have been raised " by the "Luanda leaks" investigation and " strive to maintain the highest professional standards ".
The principality wants to " get out of the Monaco equation = money laundering "
When Prince Albert rose to the throne on Thursday November 17, 2005, Monaco was still a tax haven. This is a question he addressed head-on in his induction speech: " I will fight with all my might that we will forever leave the equation Monaco = money laundering ". Four years later, the principality made commitments to get out of the OECD gray list of non-cooperative jurisdictions in tax matters. It will take almost ten more years for her to abandon her sacrosanct banking secret. Since January 1, 2018, the exchange of information is automatic between Monaco and the European Union on the bank accounts of their respective nationals. In the coming months, the government should propose a text aimed at creating a register of single beneficiaries, an essential tool for the traceability of transactions, to comply with the fifth European Union directive on money laundering.
At the Monaco courthouse, the current concern is to make operational all this arsenal of fight against money laundering and tax evasion. " For there to be prosecution, first, you must have a declaration of suspicion that reaches the judicial authority, " comments the French magistrate Robert Ghelli, newly promoted director of the judicial services of the principality. It is another Frenchman Michel Hunault, former rapporteur of the laws against money laundering and corruption, who since July 1, 2019 took the head of the Information and Control Service on Financial Circuits (SICCFIN), whose reinforcement, in progress, " will certainly have an important role ", hopes Robert Ghelli.
Bankers, notaries, lawyers, accountants, all those involved in financial transactions have been subject to this declaration of suspicion for more than ten years. But it is a mechanism that remains too little used in the context of real estate operations, recognize the Monegasque authorities. " In Monaco, there is a culture of respect for anonymity and confidentiality, " recognizes a Monaco official. “ With 9,000 nationals, almost 40,000 residents over 2km2, if we were to take an interest in the affairs of others, it would be unbearable. The statement is swept aside by the Minister of Finance and the Economy of the Principality: " We must not confuse confidentiality and lack of transparency ". Jean Castellini insists on the fact that " the instructions which are given on the matter by the authorities are very clear " and that in the event of denunciations, sanctions will be taken, whoever is responsible.
On the same subject
"Luanda Leaks": when Sonangol works for you
“Luanda Leaks”: with De Grisogono, the waltz of diamonds
The "Luanda Leaks" or the exposure of the Santos-Dokolo ecosystem
"Luanda Leaks": Sindika Dokolo, her empire in the shade of the Santos backs
"Luanda Leaks": for Sindika Dokolo, "there is a will to harm us"
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