Latest news with #FinancialCrimesCommission
Bloomberg
14-04-2025
- Business
- Bloomberg
Mauritius Former Finance Minister Secures Bail in Fraud Inquiry
Mauritian police released former Finance Minister Renganaden Padayachy on bail after he spent five days in custody as part of a fraud probe by the Financial Crimes Commission. Last week, the FCC arrested Padayachy and ex-central bank governor Harvesh Seegolam over allegations of 'fraud by abuse of position.' The arrests related to the acquisition of shares by Mauritius Investment Corp., a subsidiary of the central bank.
Yahoo
17-02-2025
- Politics
- Yahoo
Mauritius ex-PM bailed after 'suitcases of cash' arrest
Mauritius' former Prime Minister Pravind Jugnauth has been released on bail following his dramatic arrest on Saturday on money laundering charges. He had been detained along with three others after the anti-corruption agency said it had seized suitcases of cash and luxury watches in raids on 10 locations, including Jugnauth's home. The former prime minister's lawyer said he denied the charges against him. Jugnauth's arrest came 100 days after his landslide defeat in elections, with his successor Navin Ramgoolam vowing to root out corruption. But few Mauritians expected the Financial Crimes Commission (FCC) to move so quickly, or to arrest the former prime minister on such serious charges. Some people took to the streets of the capital, Port Louis, to celebrate by lighting firecrackers, while a handful of his supporters turned up outside court on Monday to show their solidarity with him, chanting: "Pravin! Pravin!" His wife Kobita - who is not facing the charges - was released after being questioned for hours by investigators on Saturday. Her 63-year-old husband spent the night in a detention centre, before a magistrate granted him bail late on Sunday, setting it at $32,000 (£26,000). Jugnauth's co-accused - two prominent businesspeople and a deputy mayor - are still in detention, pending the outcome of their bail applications. Their lawyers have not yet commented on the charges against them. About $2.4m in local and foreign currencies - including US dollars, euros and UAE dirhams - were seized during the raids, FCC spokesperson Ibrahim Rossaye said. Seven luxury watches, including five high-end Cartier timepieces, were also confiscated, he added. As part of his bail conditions, Jugnauth has been ordered not to contact witnesses or to interfere with them. He must also stay at a fixed address and must inform the police if he decides to relocate. Jugnauth was the prime minister from 2017 to 2024 and is a member of one of the dynasties that has dominated politics in Mauritius. Jugnauth oversaw a historic deal with UK Prime Minister Keir Starmer regarding the future of the Chagos Islands. The agreement aims to settle the long-standing sovereignty dispute over the islands, but his successor has accused him of negotiating a bad deal and has reopened talks. Is this tiny Mauritian island a confidential spy station? Mauritius government suffers electoral wipeout A quick guide to Mauritius Go to for more news from the African continent. Follow us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica Africa Daily Focus on Africa
BBC News
17-02-2025
- Politics
- BBC News
Pravind Jugnauth: Mauritius ex-PM out on bail after being charged with money laundering
Mauritius' former Prime Minister Pravind Jugnauth has been released on bail following his dramatic arrest on Saturday on money laundering charges. He had been detained along with three others after the anti-corruption agency said it had seized suitcases of cash and luxury watches in raids on 10 locations, including Jugnauth's former prime minister's lawyer said he denied the charges against him. Jugnauth's arrest came 100 days after his landslide defeat in elections, with his successor Navin Ramgoolam vowing to root out corruption. But few Mauritians expected the Financial Crimes Commission (FCC) to move so quickly, or to arrest the former prime minister on such serious charges. Some people took to the streets of the capital, Port Louis, to celebrate by lighting firecrackers, while a handful of his supporters turned up outside court on Monday to show their solidarity with him, chanting: "Pravin! Pravin!"His wife Kobita - who is not facing the charges - was released after being questioned for hours by investigators on Saturday. Her 63-year-old husband spent the night in a detention centre, before a magistrate granted him bail late on Sunday, setting it at $32,000 (£26,000).Jugnauth's co-accused - two prominent businesspeople and a deputy mayor - are still in detention, pending the outcome of their bail applications. Their lawyers have not yet commented on the charges against them. About $2.4m in local and foreign currencies - including US dollars, euros and UAE dirhams - were seized during the raids, FCC spokesperson Ibrahim Rossaye said. Seven luxury watches, including five high-end Cartier timepieces, were also confiscated, he added. As part of his bail conditions, Jugnauth has been ordered not to contact witnesses or to interfere with them. He must also stay at a fixed address and must inform the police if he decides to was the prime minister from 2017 to 2024 and is a member of one of the dynasties that has dominated politics in a sign of the deep dissatisfaction with his administration, his Lepep alliance was routed in November's parliamentary election, winning only two seats compared to the 42 in the 2019 oversaw a historic deal with UK Prime Minister Keir Starmer regarding the future of the Chagos agreement aims to settle the long-standing sovereignty dispute over the islands, but his successor has accused him of negotiating a bad deal and has reopened talks. You may also be interested in: Is this tiny Mauritian island a confidential spy station?Mauritius government suffers electoral wipeoutA quick guide to Mauritius Go to for more news from the African us on Twitter @BBCAfrica, on Facebook at BBC Africa or on Instagram at bbcafrica
Russia Today
17-02-2025
- Business
- Russia Today
Former Mauritius Prime Minister arrested
Former Mauritius Prime Minister Pravind Jugnauth has been arrested on charges of money laundering, the East African island country's Financial Crimes Commission (FCC) announced on Sunday. The detention came a day after the FCC said its officers were conducting searches at Jugnauth's home and several other locations. Investigators discovered and seized 114 million Mauritius rupees ($2.4 million) after inspecting various locations, including the former official's residence, Reuters reported, citing the FCC. 'Mr. Pravind Jugnauth, former Prime Minister, has been arrested under a charge of money laundering. He will be detained at Moka Detention Centre,' the state-owned agency said in a statement on Sunday. Jugnauth denies the charges, his lawyer, Raouf Gulbul, told reporters early Sunday. In an interview with Bloomberg on Monday, Gulbul said the ex-prime minister was released Sunday night after hours of detention. 'Today he will furnish the bonds set by the court,' the attorney stated. READ MORE: Ruling party suffers 'huge' defeat in East African state Jugnauth had been the premier of the Indian Ocean archipelago from 2017 until losing a reelection bid for a second five-year term to the opposition in November. His administration was widely accused of corruption after recordings of politicians and business owners were leaked online days before the election. Since taking office, the African nation's new prime minister, Navin Ramgoolam, has been critical of the previous government's handling of the economy. In November, Ramgoolam ordered an audit of the finance ministry, accusing it of providing 'wrong' data to 'convey a false sense of economic progress.' READ MORE: The real Lion King: Who was the founder of the richest African empire? Last month, the former governor of the Bank of Mauritius, Harvesh Seegolam, was detained and charged with conspiracy to defraud. He was eventually released on bail after the case was filed in court. In December, Ramgoolam criticized the central bank for printing money to fund the Mauritius Investment Corporation (MIC), which the previous administration established in 2020 to support businesses dealing with the effects of the COVID-19 pandemic. In a report to parliament, the prime minister described the move as 'an irresponsible act,' claiming that it had 'deleterious effects on the monetary system, more so that the banking system was already flush with excess liquidity.'
The Independent
16-02-2025
- Business
- The Independent
Minister defends controversial Chagos plan after key architect of the deal is arrested
A cabinet minister had defended the government's controversial Chagos island deal after it emerged that one of its architects has been arrested and is facing money laundering charges. Former Mauritius prime minister Pravind Jugnauth"is under arrest", the state-run Financial Crimes Commission said on Sunday. In response, the business secretary Jonathan Reynolds told GB news: 'Let's not lose sight of what we are trying to do here... it is about securing the long-term future of an important facility.' He added that it would be 'irresponsible' to not engage 'with this issue and put a UK-US base's future in question." The arrest of Mr Jugnauth follows searches by FCC detectives of locations including his home, where an amount worth $2.4 million was seized, Reuters reported the FCC said. His lawyer, Raouf Gulbul, also told reporters his client has been provisionally charged in an alleged money laundering case and denied the charges. The deal to hand over the islands was reached with the former Mauritian leader, but his successor Navin Ramgoolam and US president Donald Trump have been critical. Meanwhile, Tony Abbott, former prime minister of Australia, called the deal to hand the Chagos Islands to Mauritius an 'absurd situation'. And shadow defence secretary James Cartlidge said: 'We're being asked to spend billions to lease back a military base that we own freehold. 'Our view in the Conservative Party as the opposition is, forget the deal and spend every penny of that on our armed forces.' The government insists the deal is crucial to the national security of the UK and the US. Last week ministers claimed the UK had no option but to give up sovereignty on the islands, which house the crucial Diego Garcia UK/US airbase, because they were in danger of losing control of the satellite communications system. But a written response to Tory shadow armed forces minister Mark Francois from communications minister Sir Christopher Bryant appeared to dismiss that concern this week. Sir Christopher said: 'Individual countries have the sovereign right to manage and use the radio spectrum, within their borders, the way they wish, subject to not causing interference with other countries.' Sir Keir has told MPs that the need to secure the legal status of the base is a matter of national security and the deal would guarantee a lease on the base for 99 years at a reported cost of up to £18 billion to the taxpayer. It is understood that the deal is opposed by Donald Trump's new US administration although it had received support from Joe Biden. Concerns over potential interference from China as well as limitations on taking nuclear weapons to the secretive base, which is crucial for defence in the Indian Ocean, mean that Trump is understood to want to veto the deal.
