Angola: Consultant’s arrest ‘unjustified, illegal’ – Quantum Global

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Angola: Consultant’s arrest ‘unjustified, illegal’ – Quantum Global

10:27 CAT | 01 Oct 2018

File photo: Lusa

Financial consultants Quantum Global said on Monday the arrest and imprisonment of its board director, the Swiss-Angolan national Jean-Claude Bastos de Morais, of mismanagement of the Angolan Sovereign Fund (FSDEA) was “unjustified and illegal”.

“Quantum Global denounces the attempts by the new Board of the Angolan Sovereign Fund, which has used Angola’s justice system to resort to intimidation, coercion and breach of human rights to terminate duly signed agreements between Quantum Global and the FSDEA”, the company said in a communiqué it sent to Lusa.

On 24 September, the Angolan public prosecutor ordered the arrest and imprisonment of José Filomeno dos Santos, a son of the former president José Eduardo dos Santos, for his alleged involvement in the illegal transfer of $500 million and for his mismanagement of the sovereign fund, along with his partner, Jean-Claude Bastos de Morais.

The public prosecutor said the evidence in the records showed that the suspects committed various crimes including criminal association, undue advantages, corruption and economic participation in business.

The Angolan Sovereign Fund was set up with more than $5 billion in assets belonging to the Angolan state from oil revenues and more than half of this amount was under the management of Quantum Global, which had been founded and was led by Bastos de Morais.

Source: Lusa