The decision of the Financial Intelligence Unit (FIU) of Mauritius to freeze, after an order from the Supreme Court obtained last week, the accounts of some 24 offshore entities domiciled in Mauritius – and allegedly serving as vehicles for Libyan funds – has sparked a wave of controversy.
L’Expresss reported that the freezing of certain funds apparently linked to Muammar Gaddafi – not all – had indeed been ordered by the United Nations (UN). An international investigation was eventually launched because billions of dollars had reportedly disappeared from Euroclear accounts.
“However, these two billion dollars were unfrozen by the Belgian authorities and sent to foreign accounts in London and Bahrain,” l’Express cited international sources as claiming.
The newspaper recalled that , in July 2021, it had reported on attacks against a Mauritian operator, Capital Horizons (which manages six of the Libyan entities, among others).
At that time, Capital Horizons had reportedly reassured that it had met all of its legal obligations and was fully compliant with the laws of Mauritius.
UN Security Council
“Today, in the context of the freezing of the accounts of the 24 entities, CH, which together with its six Libyan clients is suing the Mauritian authorities. It is holding up a letter from the UN Security Council to highlight the fact that the FIU has committed a blunder, trying to be more royalist than the Security Council itself,” l’Express reported.
It said the African Union had already written to formally complain about the investigation by the Mauritian authorities on RascomStar QAF (one of the entities concerned) in which it holds shares.
It added that the United Nations Security Council even wrote to the Mauritian representative in New York to formally inform them that the Mauritian entities are not subject to any sanctions whatsoever.
In an interview with Business Magazine on 15 February, FIU Mauritius Director Carine Charlette-Katinic said that the FIU uses its power and capacity to obtain information to map the scenario here and abroad.
“Criminals who think they can go and hide somewhere and we won’t find them are wrong. Being part of the Egmont Group, we use intelligence for a purpose, for a reason; to prevent and detect money laundering from any crime (…).”
PR Stunt
Capital Horizons reportedly responded to the statement, claiming that “it seems that the CEO of FIU went on a frolic of her own in this PR stunt.”
It reportedly referred to the UN Security Council letter, arguing that there no breaches were committed by any of the Libyan companies or by Capital Horizons, nor were they subject to any sanctions(…) .
Capital Horizons reportedly added that 10 of the companies facing the freezing order were… defunct.
Source: l’Express
