Swiss Investigating Money Laundering Linked to Angolan Funds

No Comment 24 Views

The Office of the Attorney General of Switzerland (OAG) has authorised several searches in the country over possible money-laundering affecting the Angolan Sovereign Wealth Fund and the Angolan National Bank.

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 sovereign wealth fund (Fondo Soberano de Angola), the OAG said.

According to the media, the offices of Jean-Claude Bastos, the Angolan-Swiss boss of the Zug-based fund Quantum Global, were among the premises searched. The businessman was named in the “Paradise Papers” revelations and until recently managed the Angolan sovereign wealth fund.

Read the original article here: swissinfo.ch


Get headlines, breaking news, and jobs announcements delivered to your inbox. Sign up for our daily newsletter.

Share This Page
Industry Webinars
FEATURED Solutions
Learn About RDC