APRIL 23, 2018
Mauritian authorities have frozen 91 bank accounts linked to investor , a key figure from the with close connections to Angola’s former leaders.
The Paradise Papers not only uncovered details about Bastos and Quantum Global’s but identified their association with global accounting giant KPMG.
KPMG worked with Bastos and Quantum Management in Mauritius as tens of millions of dollars were shuffled by them from Angola to Mauritius and beyond
The Papers revealed that Quantum Global established seven entities in Mauritius to manage billions of dollars on behalf of the Angolan government fund after similar proposals in Jersey and the Isle of Man were turned down or dropped.
Bastos and Quantum Global, like many other offshore players, benefited from close relationships with lawyers and bankers as well as accounting giant KPMG. ICIJ is today publishing documents that underscore these ties.
Bastos is a friend and business mentor of Jose Filomeno de Santos, the son of Angola’s former president and former chairman of Angola’s sovereign wealth fund.
In January, Angola’s new president João Lourenço dos Santos as the fund chairman. Prosecutors later dos Santos with fraud relating to a $500 million transaction from the central bank.