Swiss authorities release $60m seized in Angolan investigations

Swiss banks vs black money. © Photo: RR

Casablanca, (ADV, with agencies) – Swiss authorities have released around 60 million dollars seized in an investigation into the suspected laundering of money diverted from Angola’s sovereign wealth fund and its central bank, federal prosecutors said on Friday.

Switzerland’s Office of the Attorney-General (OAG) opened criminal proceedings in April in response to reports that assets held by the National Bank of Angola and the Fondo Soberano de Angola, the sovereign wealth fund, had been misappropriated.

Prosecutors had said in May that authorities had raided several locations in Switzerland. “In these proceedings, which are still ongoing, the OAG initially froze around 210 million dollars of assets.

The OAG has already unfrozen 60 million dollars held by the Angolan sovereign wealth fund.

The funds were unfrozen because their use by unauthorized third parties could be ruled out,” the agency said after the attorneys general of both countries met in Bern on Thursday to discuss cooperation.

Angola’s five billion dollars sovereign wealth fund has been embroiled in a dispute with its former boss, the ex-president’s son Jose Filomeno dos Santos, and the Swiss-based asset manager contracted to invest money for the fund, Quantum Global.

Bur-csa – ADV, with agencies