Silent Conspiracy: Adam Siblings Tight-Lipped as Rs45 Million Inquiry Heats Up

On 18th March 2025, the sibling duo, Mary Queenie and Stephan Adam, leaders of Menlo Park Ltd (MPL), found themselves once again under the scrutinising gaze of the Anti-Money Laundering Unit. During this latest round of questioning, they faced testimony gathered from their colleagues, casting shadows over the company’s operations and the decisions made in recent months.

Opting to invoke their right to silence, the brother and sister, provided no clarity to investigators, leaving vital questions unanswered.

As the week comes to an end, this pair must return to the twelfth floor of Sterling House, the headquarters of the Anti-Money Laundering Unit, as the investigation progresses under the oversight of Assistant Police Commissioner Rajcoomar Seebah and Assistant Superintendent of Police Balmick Dussoye.

Following the conclusion of the Adams’ hearings, investigators will compile a detailed report on the case.

Mary Queenie and Stephan Adam

Mary Queenie and Stephan Adam are currently facing provisional charges of “conspiracy to defraud” in the Port-Louis Court, following their arrest on 4th March. Menlo Park Ltd had recently received a substantial financial boost of approximately Rs 45 million (around USD 1 million) through an Equity Investment from the Mauritius Investment Corporation (MIC), shortly before the general elections in November 2024.

Menlo Park Ltd was linked to Pulse Analytics, the firm responsible for a controversial survey that forecasted the victory of the L’Alliance Lepep.

As this investigation unfolds, another figure comes into focus: Renganaden Padayachy, who is also under police examination.

Investigators are eager to ascertain his alleged involvement in the circumstances surrounding the allocation of Rs 45 million to Menlo Park Ltd.

They must determine whether the former Finance Minister gave instructions to Harvesh Seegolam, the former Governor of the Bank of Mauritius, to carry out this disputed payment.

A pivotal meeting on 29th August 2024 at the MIC headquarters in The Docks, Caudan, is viewed as critical, as it was at this gathering that Menlo Park Ltd’s request for an Equity Investment was discussed.

This request received approval from the MIC board on 17th October 2024, with the funds disbursed on 29th October 2024 – just days before the crucial general elections.

Source: Defi Media