Rs45 Million Scandal: Ex-Minister Padayachy Faces IT Unit Investigation

The former Finance Minister Renganaden Padayachy found himself at the centre of a burgeoning scandal as he presented himself to the IT Unit of the police on the 24th April. This visit was necessitated by the examination of his seized devices—a mobile phone and a laptop—taken into custody just a day prior by investigators from the Anti Money Laundering Unit (AML).

These seizures were part of a sweeping investigation into an alleged fraud amounting to a staggering Rs45 million, purportedly defrauding the Mauritius Investment Corporation Ltd for the benefit of Menlo Park Ltd.

Padayachy, having been arrested for the second time in less than a week on Wednesday, 16 April, now faces a provisional charge of conspiracy to commit a wrongful act.

This charge emerged from an ongoing inquiry into suspicions of financial misconduct involving public funds.

On that same day, three searches were conducted at his residences in Domaine du Gris-Gris, Roches-Brunes, and Mont-Roches.

At his Gris-Gris home, investigators uncovered a mobile phone and a laptop, which have now been entrusted to the IT Unit for a thorough technical analysis.

This examination holds the potential to unearth critical communications, documents, or electronic transactions pertinent to the investigation.

Later that afternoon, Padayachy appeared before the Port-Louis District Court, where he was granted conditional release upon posting two bail bonds of Rs 250,000 each, alongside a recognisance of Rs 5 million.

The gravity of this case has captured public attention, not only due to the substantial sums involved but also because of Padayachy’s former high-ranking position at the time of the alleged offences.

The AML’s investigation continues, with the analysis of digital evidence and the possibility of further hearings looming on the horizon.

Source: l’Express