By Enyichukwu Enemanna
Authorities have imposed a travel restriction on former Mauritius Finance Minister Renganaden Padayachy over his alleged involvement in the embezzlement of the country’s resources, local media reported on Tuesday.
The government warned Padayachy on Monday against any attempt to leave the island, stating he would be immediately arrested.
This development comes just days after the country’s former central bank governor, Harvesh Seegolam, was arrested and later released on bail over alleged misappropriation of funds.
Investigations are ongoing into alleged illegal disbursements of about a million dollars from the Mauritius Investment Corporation (MIC), an investment company owned by the Bank of Mauritius, to Menlo Parks Ltd/Pulse Analytics, a polling company.
According to local media, a director of the MIC claimed he was forced to make the payment on 27 October last year, before legislative elections, on the orders of the former central bank governor, Seegolam.
Seegolam was arrested last Friday upon his return from an overseas trip but was later released on bail.
Padayachy is expected to be charged with fraud in the coming days.
Opposition leader Navin Ramgoolam and his coalition won the election in November last year, returning to power as the country’s Prime Minister after a decade in opposition.
In a report presented to parliament, the Anti-Money Laundering Unit of the police and Ramgoolam alleged that the central bank irresponsibly printed money to fund the MIC.
The MIC, established in 2020 to mitigate the economic effects of COVID-19, was intended to rely on official foreign exchange reserves rather than newly printed money.
During his swearing-in as Prime Minister for the third time, Ramgoolam stated, “My mission is to ensure that Mauritius is a good place to live.”
