Mauritius has issued an arrest order for its former finance minister, Renganaden Padayachy, in connection with an investigation into alleged embezzlement.
This development comes days after the arrest and subsequent release on bail of Harvesh Seegolam, the former central bank governor, who was charged with conspiracy to commit fraud.
The arrest order against Padayachy and the charging of Seegolam mark the first major moves by the government of Prime Minister Navin Ramgoolam, who has accused the previous administration of falsifying key economic data, including GDP, budget deficit, and public debt figures, for years.
According to the arrest notice, Padayachy is being investigated for alleged embezzlement involving the disbursement of 45 million rupees to the detriment of the Mauritius Investment Corporation (MIC), in favor of the company Menlo Park Ltd.
Padayachy has yet to comment on the allegations, while Seegolam’s lawyer declined to comment on the charges.
In a report to parliament, Ramgoolam accused the central bank of printing money to fund the state-owned Mauritius Investment Corporation, which was set up in 2020 to help companies deal with the impact of the COVID-19 pandemic.
