Switzerland Closes Probe Over Quantum Angola Fraud

Law360, London (July 5, 2019, 5:22 PM BST) -- Swiss prosecutors have dropped an investigation into asset manager Quantum Global Group and its controversial owner over its ties to Angola’s sovereign wealth fund.

Quantum said in a statement Thursday that the Swiss Attorney General’s Office has closed its probe after Angolan prosecutors shuttered a similar case earlier this year. Jean-Claude Bastos had been held in custody in Angola but was released at the end of March, the company said.

The company did not specify what the charges were. The Swiss investigations into Bastos were closed on June 27.

“With the termination of all investigations, Jean-Claude Bastos has taken a further...

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