Angola Seizes Properties Held by China International Fund

(Bloomberg) -- Angola’s National Service for Asset Recovery seized dozens of properties held by Hong Kong-based China International Fund and its country unit, CIF Angola, that were allegedly built with state funds.

This includes 24 buildings, more than 1,000 unfinished building and residence units, 380 acres of construction plots and hundreds of foundations for construction of buildings and residences in the municipalities of Viana and Belas, the prosecutor-general’s office said in an emailed statement.

The Ministry of Territorial Planning and Housing will be the custodian of the seized properties while prosecutors continue the criminal probe.

Read more: Angola Seizes $286.4M From China’s Fund on Airport Work Delays

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