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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.