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The Swiss business man from underground prison

The suspicion of money laundering and corruption arrested a Swiss-Angolan Jean-Claude Bastos has been released in Angola from custody. He agreed with the state Fund of the land of a friendly settlement of the matter.

The comparison is of a confidential nature, such as Bastos' company Quantum Global announced on Friday evening. The Angolan authorities do not charges of a criminal conduct against the business man. The authorities in Mauritius picked up because of this decision, the freezing of the accounts of Quantum Global and Bastos. In addition, the local financial market Supervisory authority granted the company a license.

As Quantum writes Global, was the agreement on the basis of legal victories in Switzerland and in the United Kingdom. In the United Kingdom, such as the English High Court dismissed a worldwide freeze on the accounts of Quantum and Bastos and paved suits the way for compensation. In Switzerland the Federal government had a free bar then frozen accounts of the Quantum Group.

the comparison with The Angolan sovereign Fund, in that both sides would waive further claims. In addition, the agreement covers all of the funds initiated proceedings before the courts in Angola, Mauritius, Switzerland and the United Kingdom.

Quantum and Bastos, in turn, forgo the in the United Kingdom, raised to claims for damages and set the is legal actions against the Fund in Mauritius.

Panama Papers brought the case to the roles

in The case of Bastos had been unleashed by the publication of the Paradise Papers in the autumn of 2017. Bastos had been received in accordance with the by a research network of public data made of a Panamanian law firm in Angola, under the reign of Ex-President José Filomeno dos Santos, a lucrative asset management mandate from the state Fund. Funds were also invested in a Bastos personally operated the port project.

After a change of government Bastos was accused in Angola, embezzlement and money laundering. Bastos was sitting there since the end of September in pre-trial detention. (ij/sda)

Created: 22.03.2019, 18:43 PM

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