Latest news with #Seegolam
Yahoo
14-04-2025
- Business
- Yahoo
Former Mauritius finance minister granted bail in fraud case
PORT LOUIS (Reuters) - A court in Mauritius has granted bail to a former finance minister charged with fraud over alleged embezzlement at a state-owned company, his lawyer and the financial crimes commission said on Monday. Renganaden Padayachy and former central bank governor Harvesh Seegolam were arrested and charged last week over the reported embezzlement of 300 million Mauritius rupees ($6.7 million) from the Mauritius Investment Corporation, set up to help companies deal with impact of the COVID-19 pandemic. Padayachy and Seegolam have both denied wrongdoing. Seegolam was freed on bail last week. On Monday the court granted Padayachy bail after the financial crimes commission said it did not oppose his release, a commission spokesperson said. Raouf Gulbul, Padayachy's lawyer, welcomed the court's decision. "He (Padayachy) will be ... present for any further interrogation," he told reporters. The government of Prime Minister Navin Ramgoolam, who won power in a November election, has accused the previous administration under which the two former officials served of falsifying data on economic growth, the budget deficit and public debt for years.
Reuters
14-04-2025
- Business
- Reuters
Former Mauritius finance minister granted bail in fraud case
PORT LOUIS, April 14 (Reuters) - A court in Mauritius has granted bail to a former finance minister charged with fraud over alleged embezzlement at a state-owned company, his lawyer and the financial crimes commission said on Monday. Renganaden Padayachy and former central bank governor Harvesh Seegolam were arrested and charged last week over the reported embezzlement of 300 million Mauritius rupees ($6.7 million) from the Mauritius Investment Corporation, set up to help companies deal with impact of the COVID-19 pandemic. Padayachy and Seegolam have both denied wrongdoing. Seegolam was freed on bail last week. On Monday the court granted Padayachy bail after the financial crimes commission said it did not oppose his release, a commission spokesperson said. Raouf Gulbul, Padayachy's lawyer, welcomed the court's decision. "He (Padayachy) will be ... present for any further interrogation," he told reporters. The government of Prime Minister Navin Ramgoolam, who won power in a November election, has accused the previous administration under which the two former officials served of falsifying data on economic growth, the budget deficit and public debt for years.
Yahoo
10-04-2025
- Business
- Yahoo
Former Mauritius central bank governor charged with fraud, released on bail
PORT LOUIS (Reuters) - Harvesh Seegolam, the former central bank governor of Mauritius, was charged with fraud on Thursday and released on bail, his lawyer said, a day after he was arrested alongside the former finance minister over alleged theft from a state company. Seegolam and former finance minister Renganaden Padayachy have denied wrongdoing in the investigation into the reported embezzlement of 300 million Mauritius rupees ($6.70 million) from the Mauritius Investment Corporation, set up to help companies deal with impact of the COVID-19 pandemic. "Seegolam is collaborating with the authorities. He is giving all evidence and information related to this case," Seegolam's lawyer told reporters. The government of Prime Minister Navin Ramgoolam, who won power in a November election, has accused the previous administration, under which the two former officials served, of falsifying data on economic growth, the budget deficit and public debt for years. One of Ramgoolam's first moves was to launch an audit of public finances. His predecessor, former prime minister Pravind Jugnauth, was arrested in February on charges of money laundering, which he has denied.
Reuters
10-04-2025
- Business
- Reuters
Former Mauritius central bank governor charged with fraud, released on bail
PORT LOUIS, April 10 (Reuters) - Harvesh Seegolam, the former central bank governor of Mauritius, was charged with fraud on Thursday and released on bail, his lawyer said, a day after he was arrested alongside the former finance minister over alleged theft from a state company. Seegolam and former finance minister Renganaden Padayachy have denied wrongdoing in the investigation into the reported embezzlement of 300 million Mauritius rupees ($6.70 million) from the Mauritius Investment Corporation, set up to help companies deal with impact of the COVID-19 pandemic. "Seegolam is collaborating with the authorities. He is giving all evidence and information related to this case," Seegolam's lawyer told reporters. The government of Prime Minister Navin Ramgoolam, who won power in a November election, has accused the previous administration, under which the two former officials served, of falsifying data on economic growth, the budget deficit and public debt for years. One of Ramgoolam's first moves was to launch an audit of public finances. His predecessor, former prime minister Pravind Jugnauth, was arrested in February on charges of money laundering, which he has denied.
