Ex-SBM Executive Walks Free in Rs 1.3 Billion Fraud Case

Deenesh Ghurburrun, the former Head of Compliance Division at the State Bank of Mauritius (SBM), has had a provisional charge of criminal conspiracy, linked to a Rs 1.3 billion (USD 30 million) fraud against SBM, dropped by Magistrate Valentine Mayer.

Ghurburrun, aged 60, requested the striking off of the charge on November 25, 2022, citing a lack of reasonable suspicion and procedural delays.

He was accused of colluding in 2018, during his tenure at the Compliance Division, with former SBM Chief Executive Raj Dussoye and Indian national Hitesh Kumar Chinubhai Mehta to facilitate a USD 30 million disbursement, equivalent to Rs 1.3 billion, benefiting Renish Petrochem FZE at SBM’s expense.

Police Investigators contended that there was no evidence of Ghurburrun meeting Mehta, and an email sent to the Compliance Division was not addressed to him.

Ghurburrun was neither the Relationship Manager for Renish Petrochem FZE’s loan request nor part of the evaluating committee; the disbursement approval was solely under Raj Dussoye’s authority.

Source: Defi Media