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.
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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.
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Swiss investment fund founder released from Angolan prison
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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…
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