Quantum says Swiss prosecutors close Angola-related case
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.
This content was published on
1 minute
Keystone-SDA/sb
“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.
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.
More
More
Demographics
Swiss investment fund founder released from Angolan prison
This content was published on
The confidential settlement was announced on Friday External linkby the company which stated that the Angolan authorities have not filed criminal charges against Bastos. “The settlement agreement follows success in the courts over the past months in Switzerland and in the United Kingdom, where the English High Court dismissed the Worldwide Freezing Order against Quantum…
Zurich authorities want ‘no taxpayer money for terrorists’
This content was published on
Zurich cantonal parliament has voted against recognising the state of Palestine. However, it provisionally supported a motion calling for “no taxpayers' money for terrorists”.
Swiss mechanical firms struggling since before Trump
This content was published on
Swiss mechanical engineering companies are said to be one of the main victims of Donald Trump's high tariffs. However, the industry has been struggling for years.
SNB head warns of side effects of negative interest rates
This content was published on
The Swiss National Bank (SNB) takes a critical view of the reintroduction of negative interest rates. "We are aware that the negative interest rate can have undesirable side effects, for example for savers and pension funds."
EU reports 400,000 asylum applications in first half of year
This content was published on
The number of new asylum-seekers within the European Union and Switzerland and Norway fell significantly in the first half of the year.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss investment fund founder released from Angolan prison
This content was published on
The confidential settlement was announced on Friday External linkby the company which stated that the Angolan authorities have not filed criminal charges against Bastos. “The settlement agreement follows success in the courts over the past months in Switzerland and in the United Kingdom, where the English High Court dismissed the Worldwide Freezing Order against Quantum…
Controversial investor Jean-Claude Bastos detained in Angola
This content was published on
According to agency reports, the Angolan-Swiss investor has been placed in detention on suspicion of embezzling national funds.
Attorney generals pledge to pursue Angola fund probe
This content was published on
Justice ministry officials from Switzerland and Angola have discussed closer cooperation in a major international case of suspected corruption.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.