SBB head caught up in Paradise Papers scandal
The release of the Paradise Papers are causing shockwaves around the world, implicating many international political and business leaders – including Elizabeth II and members of Donald Trump’s cabinet.
The papers outline how the wealthy use artificial, but legal, methods to avoid tax.
The fallout is likely to last for several weeks. But it could be embarrassing for the head of Swiss Federal Railways.
Monika Rebar is considered one of the world’s most influential businesswomen and she currently chairs the railway’s board.
The leak suggests she may have connections with a fund involved with building a port in Angola. The African country has a reputation for corruption and the money invested for the port seems to have benefitted Fribourg businessman, Jean-Claude Bastos, who already has a criminal record for improper business dealings after being convicted by a court in canton Zug.
There will be questions as to how much Rebar knew about the fund and the allegations it seems to be benefitting Bastos and not the people of Angola.
Ribar resigned from the company involved with the building of the port last year.