Mauritian Businessman Probed Over Rs 45 Million Offshore Fraud Scheme

A Mauritian professional is at the centre of an international financial investigation involving falsified invoices and offshore accounts in the United Arab Emirates, with potential losses exceeding over Rs 45 million.

The probe, which has escalated from a routine administrative check to a cross-border criminal inquiry, involves authorities in both Mauritius and the UAE.

Investigators are currently unpicking a sophisticated mechanism allegedly used to redirect corporate payments into illicit accounts.

The Alleged Scheme

Detectives believe the suspect, operating from the Mauritian capital of Port Louis, utilized a multi-layered approach to divert funds:

• Document Forgery: The production of falsified commercial invoices.
• Account Manipulation: The systematic modification of banking details to intercept payments.
• Offshore Routing: The use of “black” accounts registered in Dubai and Abu Dhabi to receive diverted international funds.

The siphoned money is thought to originate from international corporate clients across various sectors who were unaware their payments were being rerouted.

International Manhunt

While the primary suspect remains in Mauritius, the investigation has widened to include four other individuals believed to be linked to the network.

These associates have reportedly fled the island and are now featured on international watchlists.

In the UAE, at least four suspicious bank accounts have been identified and placed under official observation.

Timeline of the Investigation

The case first came to light in September 2023 following complaints lodged with Dubai’s cybercrime department.

• October 2023: The Mauritian suspect provided an initial statement to investigators as evidence of coordinated offshore activity began to surface.
• March 2024: A formal investigation was officially launched.

Ongoing Forensic Analysis

Authorities are currently conducting forensic examinations of a vast cache of documents.

Affected international clients, particularly within the technology and payment services sectors, are being discreetly notified as financial circuits are retraced.

The investigation remains active and confidential. Officials have indicated that the scope of the inquiry is likely to expand as cross-border financial flows between the two jurisdictions undergo further scrutiny.

Source: Defi Media