Turtle Management

Flying in the Face of Justice

11 de July de 2018 Rafael Marques de Morais

Jean-Claude Bastos de Morais, the Swiss-Angolan ‘businessman’ who is accused of masterminding a conspiracy to defraud the Angolan Republic of untold millions of dollars, is enjoying life as a free man in Angola, despite being the subject of police investigations and criminal and civil lawsuits in several countries. Why, when he faces such serious criminal and civil charges in connection with his (mis)management of US $3 billion of the Angolan sovereign wealth fund and alleged fraud and money-laundering, is Mr. Bastos de Morais at liberty to continue to run the Banco Kwanza Invest (BKI) and the controversial project to build and run the Caio deep sea port project in Cabinda province? He is said to have amassed an enormous fortune largely thanks to his association with one of the sons of former Angolan President José Eduardo dos Santos: José Filomeno, nicknamed Zenú. In one of his many acts of outright […]

Stealing with Presidential Decrees

14 de March de 2017 Rafael Marques de Morais

When Angola’s President decreed in 2012 that the north-western enclave of Cabinda should have a deep-water port, it was heralded as a private sector deal that wouldn’t cost the Angolan state a single cent. The estimated US $540 million construction costs would be funded by private investors and banks. For once, there was no Angolan public sector involvement contemplated. That proved to be a chimera. In fact, the entire Caio Port (Porto de Caio) concept seems to have been a vanity project involving the President’s son, José Filomeno dos Santos known as Zenú and his very close friend and financial mentor, Jean-Claude Bastos de Morais. And sadly, the project is bleeding millions upon millions of dollars from the Angolan Sovereign Wealth Fund controlled by Zenú. A very ‘private’ port The proposal for Cabinda’s deep water port at Caio was first announced in a 2012 presidential decree as a wholly private-sector […]

Corruption