Controversial investor Jean-Claude Bastos detained in Angola
According to agency reports, the Angolan-Swiss boss of the Zug-based fund Quantum Global has been placed in detention on suspicion of embezzling national funds.
This content was published on
2 minutes
Keystone-ATS/ac
Português
pt
Preso em Angola o controverso investidor Jean-Claude Bastos
Bastos was named in the “Paradise Papers” revelations and until recently managed the Angolan sovereign wealth fund. His boss Jose Filomeno dos Santos, former head of the Angolan sovereign wealth fund and son of the former President Jose Eduardo dos Santos, has also been placed in detention. dos Santos was dismissed from his post last January by Angola’s new president, Joao Lourenço.
Angola’s Prosecutor General Alvaro Da Silva Joao said the accused were placed under preventive detention on Monday because there was sufficient evidence that they had engaged in corrupt activities.
Embezzlement charge
According to the Angolan Ministry of Finance, dos Santos is suspected of having developed, while running the Angolan sovereign wealth fund (Fondo Soberano de Angola), a massive scam that could have enabled him and his accomplices to embezzle up to $1.5 billion (CHF1.4 billion).
This scam was part of a plan that would allow Angola to benefit from $35 billion in financing, with a false guarantee from the Credit Suisse bank, reports say. The fraud was discovered through a suspicious transfer of $500 million to the London account of Credit Suisse, blocked by the British authorities.
The Swiss Attorney General’s Office announced in May that it had opened an investigation concerning “money laundering” linked to assets held by the Angolan National Bank and the Angolan sovereign wealth fund. Several searches were ordered, including Bastos’ offices in Switzerland.
More
More
Swiss investigating money laundering linked to Angolan funds
This content was published on
The attorney general has opened criminal proceedings against unknown persons on suspicion of money laundering, his office told financial news agency AWP on Thursday. The statement confirms information published on Wednesday in several Swiss papers. The criminal proceedings are linked to possible offences against the assets held by the Angolan National Bank and the Angolan…
Swiss football boss wants crackdown on individual hooligans
This content was published on
The head of the Swiss Football League says he prefers a harsher approach to individual hooligans rather than collective punishment measures affecting all fans.
Amherd: Council of Europe is ‘as urgently needed as ever’
This content was published on
The Swiss government emphasised on Sunday the vital role of the Strasbourg-based Council of Europe, 75 years after it was founded.
Swiss minister: Italy will back Switzerland in EU talks
This content was published on
Bern can count on the backing of Italy as it re-enters talks with the European Union on future relations, Viola Amherd says.
Student protestors at University of Lausanne continue pro-Palestine sit-in
This content was published on
Since Thursday, a hall on campus has been occupied by students calling for a boycott of Israeli academic institutions and a ceasefire in Gaza.
This content was published on
Swiss public broadcasters RTS and SRF are drastically reducing their communications via the social network X (formerly Twitter).
Israel: president of Swiss universities rejects academic boycott
This content was published on
Luciana Vaccaro, president of Swissuniversities, the umbrella group of Swiss universities, is not in favour of an academic boycott of Israeli universities.
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
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.
This content was published on
A spokeswoman for the Federal Prosecutor’s Office confirmed to swissinfo.ch that the complaint had arrived by post on Wednesday. The basis for the complaint is new information contained in a report released on Tuesday by a British organisation, Corruption Watch UK, and Angolan anti-corruption group Mäos Livres. An earlier Swiss criminal investigation into the affair…
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.