Navigation

Skiplink Navigation

Main Features

Sovereign wealth Quantum says Swiss prosecutors close Angola-related case

Luanda, Angola

Quantum Global founder Jean-Claude Bastos was released from an Angolan jail last March after reaching a confidential settlement with the Angolan sovereign fund. The Angolan authorities dropped all charges against him.

(Keystone / Obed Zilwa)

The Office of the Attorney General has closed an investigation into events surrounding the Zug-based asset manager Quantum Global and its founder Jean-Claude Bastos, the firm says. Bastos has been in the spotlight over ties to Angola’s sovereign wealth fund. 

“With the termination of all investigations, Jean-Claude Bastos has taken a further step towards his complete rehabilitation against the false and unsubstantiated allegations made against him and the Quantum Global Group,” the firm said in a statementexternal link on Thursday. 

The Swiss investigations into Bastos were closed on 27 June, the attorney general’s office confirmed to Keystone-SDA. 

In May 2018, the attorney general opened criminal proceedings against unknown persons on suspicion of money laundering, and searches were authorized. The criminal proceedings were linked to possible offences against the assets held by the Angolan National Bank and the Angolan sovereign wealth fund (Fondo Soberano de Angola). 

The abandonment of the Swiss investigation follows the businessman's release from an Angolan prison last March after reaching a confidential settlement with the Angolan sovereign fund. The Angolan authorities dropped all charges against him.

Bastos was named in the 2017 "Paradise Papers" revelations and until recently managed the Angolan sovereign wealth fund.

Keystone-SDA/sb

Neuer Inhalt

Horizontal Line


Like swissinfo.ch? Meh? Let us know.

Survey

Survey

Your questions become our stories: time to vote

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.









Click here to see more newsletters