German bank probed over Dos Santos loan

Police have searched the headquarters of Germany's state-owned export bank as part of a criminal probe sparked by the Luanda Leaks investigation. The International Consortium of Investigative Journalists has revealed that federal police seized files from KfW-Ipex-Bank following allegations that bank employees misappropriated public funds when granting a $55m loan to the Sodiba, the brewery owned by Angolan billionaire Isabel dos Santos. Authorities are also investigating whether KfW properly vetted Dos Santos' ties to the company before granting the loan. The Luanda Leaks investigation revealed that Dos Santos used the loan to buy a brewery and bottle filling systems from German manufacturer Krones AG. In December 2019, before the publication of Luanda Leaks, a Luanda court froze Dos Santos' assets and those of her husband, including the couple's stake in Sodiba. Dos Santos faces criminal and civil charges in Angola.

ICIJ statement