Huila: Former Sodemat CEO gets two-year sentence
Lubango, ANGOLA, September 3 - Ex-chairman of the Board of Directors of the Matala Irrigated Perimeter Development Society was given Wednesday a two-year prison sentence for embezzlement and violation of budget rules.,
The trial of Arsenio Salvaterra dos Santos was initially scheduled to take place on Tuesday in the District Court of Lubango, Huila.
The session was postponed after the judge of the case, Geraldo Ukuma, complained of malaise.
According to the judge, the execution of the sentence of imprisonment for the four defendants had been suspended for a period of five years, with the obligation to pay, within 15 days, to justice, compensation and other charges.
Announcing the ruling, the magistrate stressed that the measure is converted into a Akz 300,000 fine, while the defendants Domingos Paulo, Camilo Miguel José and Ernesto Gonçalves should pay 500,000 kwanzas each.
The four defendants involved in the crime must jointly reimburse 20.1 million kwanzas to Sodemat, deposited in the Single Treasury Account (CUT).
The defendants' lawyer, David Guz admitted the possibility to appeal to the Supreme Court (TS), to reduce the fines.
The defendant was arrested in 2018, by order of the local court, on suspicion of misappropriation of public funds, worth Akz 20.1 million, while in office (2006/2012).
The money was supposed to be earmarked for development of Matala Irrigated Perimeter in southern Huila province.
The share capital of Sodmat, the company tasked with managing the largest irrigated perimeter in the country, was established in an equivalent amount of USD 4 million.
The value was fully subscribed and paid up by the ministerial department of agriculture, having both individual and collective shareholders.
The Matala Irrigated Perimeter Development Society was founded in 2006.
The company operates a perimeter with a 42 km long canal and a potential area of around 12,000 hectares, of which only about 1,500 hectares are currently used.
,
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.