Mauritius: A former Finance Minister was Freed on Bail on Allegations of Corruption

Renganaden Padayachy, the former finance minister accused of embezzlement last week, was granted bail by a Mauritius court on Monday. Padayachy and Harvesh Seegolam, the central bank’s former governor, were indicted together. They allegedly embezzled approximately $6.7 million from the Mauritius Investment Corporation.

The fund was established to assist businesses in mitigating the impact of the COVID-19 epidemic. Both have denied any misconduct. The nation’s anti-corruption body, the Financial Crimes Commission, stated during Padayachy’s bail hearing that it had no issues with the bail request.

The two former officials were part of the Pravind Jugnauth administration, which Prime Minister Navin Ramgoolam’s government has accused of lying for years about public debt, budget deficit, and economic development.

In February, Jugnauth was taken into custody on suspicion of money laundering. After many days, he was released on bond. Before his Militant Socialist Movement’s humiliating loss in the general elections in November, Jugnauth served as prime minister from 2017 until that time.

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