Former Finance Minister Grilled in Ambre Hotel Misappropriation Claim Probe

Renganaden Padayachy, the former Mauritian Finance Minister, was questioned on Monday, 13 October, at the Financial Crimes Commission (FCC) headquarters as part of the ongoing investigation into the Ambre hotel case. The probe centres on an alleged Rs 300 million misappropriation detrimental to the Mauritius Investment Corporation (MIC) and benefitting Apavou Hotels Ltd.

Noonaram Links Under Scrutiny

Padayachy’s hearing follows the arrest of Dirish Noonaram, director of Verde Frontier Solutions Ltd. Noonaram acted as the Transaction Advisor during the MIC’s purchase of shares held by Armand Apavou in East Coast Hotel Investment Ltd, the owner of the Ambre hotel.

Investigators are particularly focused on a meeting between Padayachy and Noonaram.

They are aiming to determine if the hotel’s purchase—initially valued at Rs 2.1 billion but finalised at Rs 2.4 billion—was discussed during their alleged encounter.

Noonaram Detained, Padayachy Released

While Padayachy was allowed to leave after three hours of questioning but remains available to the FCC, Dirish Noonaram remains in police custody.

Noonaram accompanied investigators on a search related to a separate money laundering inquiry involving Rs 162 million.

Source: Defi Media