Swiss Attorney General Lifts Freeze on Quantum Global Group and its Affiliated Companies’ Bank Accounts

Quantum Global Group (the “Group”) announced today that the Attorney General of Switzerland (the “Swiss AG”) has lifted the freeze on the Group and its affiliated companies’ bank accounts earlier this week after a lengthy investigation into the sources of monies in the bank accounts. As no evidence of any wrongdoing was found, the Swiss AG notified the Group earlier this week that there were no grounds to continue the freeze on the accounts.

The Swiss AG actions follow recent court cases in Switzerland and the proceedings in England, which found in favour of Quantum Global and its Founder, Mr. Jean-Claude Bastos de Morais. These extensive and costly legal proceedings found no evidence of wrong doing by the Group or Mr. Bastos; and clarified that all actions taken by the Group and Mr. Bastos were executed in accordance with commercially valid and legally binding contracts.

The Swiss AG’s decision and the previous rulings in favor of Quantum Global and its Founder highlight and put into further question the unjustified conduct of the Mauritian authorities. The Group reiterates its request that the Mauritian authorities and the Mauritian courts immediately cease all actions against the Group and Mr Bastos, which have prevented the Group from managing its investments in Africa and paying its staff for eleven months. Despite repeated attempts during this period, the affidavit relied upon by the Financial Intelligence Unit (FIU) of Mauritius against Quantum Global is still being withheld from the Group.