Harvesh Seegolam, the former governor of the Bank of Mauritius, was charged with fraud on Thursday and subsequently released on bail, according to his attorney. This development follows his arrest the previous day alongside former finance minister Renganaden Padayachy, in connection with alleged embezzlement from a state-owned enterprise.
Both Seegolam and Padayachy have refuted any allegations of misconduct related to the investigation into the alleged misappropriation of 300 million Mauritius rupees (approximately $6.70 million) from the Mauritius Investment Corporation, which was established to support businesses affected by the COVID-19 pandemic.
“Seegolam is cooperating fully with the authorities, providing all necessary evidence and information pertinent to this case,” his lawyer informed the media.
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Prime Minister Navin Ramgoolam’s government, which came to power following a November election, has accused the previous administration—during which both officials served—of manipulating data regarding economic growth, budget deficits, and public debt over several years.
One of Ramgoolam’s initial actions was to initiate an audit of public finances. His predecessor, former prime minister Pravind Jugnauth, was arrested in February on money laundering charges, which he has denied.
