Renganaden Padayachy
Source: Africa Publicity
A court in Mauritius has granted bail to Renganaden Padayachy, the former finance minister, who was charged with fraud over alleged embezzlement at a state-owned company.
Padayachy and former central bank governor Harvesh Seegolam were arrested last week in connection with the reported embezzlement of 300 million Mauritius rupees ($6.7 million) from the Mauritius Investment Corporation, a company established to support businesses affected by the COVID-19 pandemic.
Padayachy’s lawyer, Raouf Gulbul, welcomed the court’s decision, stating, “He (Padayachy) will be present for any further interrogation.” Seegolam was granted bail last week, and the financial crimes commission did not oppose Padayachy’s release.
Both Padayachy and Seegolam have denied any wrongdoing. The case has sparked controversy, particularly given the current government’s accusations against the previous administration, under which the two officials served, of falsifying economic data. Prime Minister Navin Ramgoolam’s government alleges that the previous administration manipulated data on economic growth, budget deficits and public debt for years.
Have a press release, feature, article for publication? Send it to us via Whatsapp on +233543452542.
