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Former MIC CEO, Confronted with Damning Evidence in Corruption Investigation

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Former MIC CEO, Confronted with Damning Evidence in Corruption Investigation
Image source: Le Mauricien

Jitendra Bissessur, the former Chief Executive Officer of the Mauritius Investment Corporation (MIC), continued to face intense scrutiny, on January 16, during his questioning at the Anti-Money Laundering Unit (AMLU) within the Central Criminal Investigation Department (CID).

During the interrogation, Bissessur was presented with incriminating documents related to an application from Menlo Park Ltd, which sought financial support from the MIC.

The police confronted him with a statement from an analyst who had recommended against progressing with funding for an artificial intelligence project proposed by Stéphane and Mary Queenie Adam.

This analyst alleged that she was pressured to alter her recommendations to the MIC Board, suggesting that Bissessur had instructed her to change her initial stance.

In response to these allegations, Bissessur denied any wrongdoing, asserting that he did not interfere in the handling of files pertaining to funding requests.

Complicating the issue, the analyst had included conditions for the Board’s approval of Menlo Park Ltd’s application, stipulating that the company must secure USD 5.2 million in funds and adhere to the guidelines of an Information Security Management System.

Menlo Park Ltd purportedly agreed to these conditions.

Key questions remained regarding whether Menlo Park Ltd provided financial documentation to demonstrate that it had indeed raised the necessary funds prior to the MIC’s disbursement of USD 1 million (approximately MUR 48 million).

To address these concerns, the AML Unit plans to hear from Huns Biltoo, the external auditor assigned by the MIC Board.

Biltoo, a representative of KPMG, arrived at Sterling House yesterday; however, investigators were unable to question him due to the ongoing interrogation of Bissessur.

He is expected to return at a later date with detailed financial accounts of the MIC.

The external auditor has direct access to the Audit and Risk Committee of the MIC and is authorized to discuss various issues, including the provision of Non-Audit Services to the committee.

Investigators are particularly interested in determining whether Menlo Park Ltd’s dealings with Pulse Analytics and its alleged fictitious polling data were included in the scrutiny of the application.

The questioning of Jitendra Bissessur is set to continue, while Aditi Boolell, one of the directors of Menlo Park Ltd, is also expected to appear at the AMLU for her own interrogation, which could yield significant revelations.

Source: Le Mauricien

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