Mauritius Freezes $519 Million of Quantum’s Assets
- Supreme Court granted orders to block activity on 58 accounts
- Quantum manages about $3 billion of Angola’s sovereign wealth
Quantum Global, an investment firm managing part of Angola’s sovereign fund, is said to have had assets worth 17.5 billion rupees ($519.4 million) frozen in Mauritius, two officials familiar with the matter said.
Mauritius’s Supreme Court has granted freezing orders for 58 accounts held by Quantum Global in three domestic banks, following submissions made by the country’s Financial Intelligence Unit, the people said. Legal actions and regulatory sanctions were sped up after a special envoy of the Angolan government made presentations to local officials, they said, asking not to be identified as the government and court have not commented on the matter. The amount of money held was reported earlier by the Port Louis-based Le Mauricien newspaper.