Mauritius Court Upholds Freezing Order Against Ola Energy Holding Ltd

The freezing order against Ola Energy Holding Limited has been upheld, the Supreme Court of Mauritius has ruled.

In February earlier this year, the country’s Financial Intelligence Unit (FIU) had requested a freeze order on bank accounts against several entities, including OLA Energy Holdings, the Libya Africa Investment Portfolio, and Libya Oil (Exploration & Production) Ltd.

These companies were subject to an investigation by the Financial Services Commission (FSC) following the United Nations’ sanctions against Libya.

Mauritian authorities suspect these funds to be linked to terrorism financing.

Me Robin Mardemootoo, the legal representative of Ola Energy in Mauritius, stated that he has received instructions to appeal this decision.

Source: Defi Media