"Grecima Case": ex-director indicted of three crimes

  • Deputado, Manuel Antonio Rabelais
Luanda - The Criminal Chamber of the Supreme Court indicted Wednesday, in Luanda, the former director of the extinct Administration Revitalization and Marketing Office (Grecima), Manuel António Rabelais, for the crimes of embezzlement, money laundering and violation of budget execution rules.

For the same crimes Hilário dos Santos is also being accused, who at the time was the administrative assistant of the Grecima.

In the order of the judge of the case, Daniel Modesto, the acts of the former Grecima director refer to 2016 and 2017, by the time the National Bank of Angola (BNA) allocated 98 million euros to the institution.

According to the indictment, the defendant Manuel Rabelais opened a series of accounts for the movement of the amounts allocated by the BNA to various banking institutions such as Banco de Comércio e Indústria (BCI) , Banco de Poupança e Crédito (BPC), Banco Angolano de Investimento (BAI) and Banco de Investimento Internacional (BIC), being the only subscriber.

"In this period, the BNA allocated to Grecima, through the BCI, the amount of 98 million euros and in order to acquire the countervalues in kwanzas , the Grecima was

transformed into a currency exchange office, whose currencies were traded at a higher price to official value", the judge says.

Several national and international companies were involved in this operation. Nearly 16 billion kwanzas have been returned to the BNA.

For the same crimes Hilário dos Santos is also being accused, who at the time was the administrative assistant of the Grecima.

In the order of the judge of the case, Daniel Modesto, the acts of the former Grecima director refer to 2016 and 2017, by the time the National Bank of Angola (BNA) allocated 98 million euros to the institution.

According to the indictment, the defendant Manuel Rabelais opened a series of accounts for the movement of the amounts allocated by the BNA to various banking institutions such as Banco de Comércio e Indústria (BCI) , Banco de Poupança e Crédito (BPC), Banco Angolano de Investimento (BAI) and Banco de Investimento Internacional (BIC), being the only subscriber.

"In this period, the BNA allocated to Grecima, through the BCI, the amount of 98 million euros and in order to acquire the countervalues in kwanzas , the Grecima was

transformed into a currency exchange office, whose currencies were traded at a higher price to official value", the judge says.

Several national and international companies were involved in this operation. Nearly 16 billion kwanzas have been returned to the BNA.