UPDATE 1-Angola's Dos Santos named as suspect over alleged fraud at oil firm

Angola's public prosecutors named former first daughter Isabel dos Santos as a formal suspect on Wednesday over alleged mismanagement and misappropriation of funds during her time as chairwoman of state oil company Sonangol, Portuguese news agency Lusa said.

It quoted comments by Angola's attorney general, Helder Pitta Gros, at a news conference in the Angolan capital Luanda, but did not immediately provide any further details. Dos Santos could not immediately be reached for comment. The billionaire businesswoman, who amassed her fortune during her father Jose Eduardo Dos Santos’ decades-long presidency, has denied wrongdoing.

Hundreds of thousands of files about dos Santos that were obtained by the International Consortium of Investigative Journalists (ICIJ) were released by several news organizations on Sunday. The media reports focused on alleged financial schemes used by dos Santos to build her business empire, including transfers between Angola and Dubai.

Angolan authorities froze dos Santos' assets in the African country in late December following allegations by prosecutors that she and her husband Sindika Dokolo had steered payments of more than $1 billion from state companies Sonangol and Sodiam to firms in which they hold stakes. Dokolo has also denied wrongdoing.

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