Luanda, ANGOLA, September 22 - The former CEO of the insurance firm AAA, Carlos São Vicente, was held in preventive detention Tuesday in Luanda by the Angolan authorities. ,

This was after a warrant of arrest was issued by the Republic Attorney General’s Office (PGR).

According to a PGR note that reached Angop, São Vicente was driven to Viana prison, near Luanda, following hours of a second session of questioning by the National Department of Investigation and Penal Action (DNIAP).

According to the PGR, São Vicente is suspect of fund embezzlement and receiving undue benefits.

He is also strongly suspect of illicit economic participation in businesses, traffic of influence and other related offences.

The preventive detention of the former CEO, occurs after the PGR seized 49 percent of AAA Activos Lda’s shares in the Standard Bank de Angola, SA, run by Carlos São Vicente.

The seizures went in response to a lawsuit that followed suspicions of fraud, illicit participation in businesses, traffic of influence and money laundering.

Also seized by the State were three AAA buildings in Luanda and the IU and IKA hotels networks, all in the capital.

The warrant of seizure includes the AAA buildings around the country, except those being currently run by the Ministry of Justice and Human Rights.

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