Toxic Rs 1.5 Billion Loans: Gooljaury Brothers Spent the Night Behind Bars

Rakesh Gooljaury was arrested upon landing at Plaisance Airport on February 6, 2025. After returning from a trip to India via Dubai, he was taken directly to the Financial Crimes Commission (FCC) for questioning. Alongside him, his brother Prameshwar Gooljaury was also detained.

The two brothers are now under investigation for a staggering Rs 1.5 billion in toxic loans issued by their companies through MauBank (formerly MPCB).

Following their interrogations, Rakesh spent the night in Quartier-Militaire police station, while Prameshwar was held at Vacoas Detention Centre.

Both are set to face court on February 7, 2025, where they are expected to be temporarily charged with money laundering.

During his interrogation, Rakesh exercised his right to remain silent, with lawyers Me Siddhartha Hawoldar and Me Kailash Trilochurn at his side.

His arrest came after a direct request from the FCC, led by Deputy Director Sanjay Dawoodarry, who instructed the Passport and Immigration Office to notify them upon the return of Rakesh, once a close friend of the Prime Minister.

Prameshwar, represented by Me Taij Dabycharan, denied any involvement in the loans taken out by their companies, asserting that all decisions fell to Rakesh.

The saga of these loans began in 2015 when the Central Criminal Investigation Department launched an inquiry into the so-called “toxic loans.”

This investigation was later taken over by the now-defunct Independent Commission against Corruption (Icac), which has since evolved into the FCC.

The evidence suggested that between 2010 and 2015, the Gooljaury brothers’ companies took out loans deemed toxic, totaling Rs 1.5 billion from MauBank.

Reports indicated that these loans were written off by the bank in 2016, resulting in significant losses, which intensified suspicions of money laundering.

Just last year, the Icac executed a 12-hour raid on MauBank’s headquarters, sifting through documents and crucial data related to the Gooljaury loans.

Rakesh’s political journey took a sharp turn in 2014 when he fell out with Ramgoolam and aligned himself with Pravind Jugnauth and the Militant Socialist Movement.

This shift transformed him from a friend into a foe.

One key incident was the Roches-Noires bungalow burglary case in 2011, where Rakesh initially claimed to be at the scene, only to change his story years later, implicating Ramgoolam in the crime before ultimately admitting to having lied.

Navin Ramgoolam has not shied away from expressing his disdain for Rakesh, publicly warning him in 2019 during a May Day rally:

“You know the story of Judas. When he betrayed Jesus Christ… Rakesh, your tale is more than that of Judas. You will know when your time comes.”

This fervent declaration, six years in the making, is now materializing as Rakesh and Prameshwar find themselves ensnared in a web of legal troubles.

As the FCC, under Sanjay Dawoodarry’s leadership, digs deeper into these troubling allegations against the Gooljaury brothers, the consequences of their past actions appear to be finally catching up with them.

The upcoming court appearance on February 7 is poised to reveal the next chapter in this dramatic saga.

Source: Defi Media