Whitedot Case: Arun Mossuddee Claims to Have Sold all its Subsidiaries

The three suspects arrested since Tuesday in the case of Rs 700 million that would have been diverted and transferred abroad, remain in detention. Arun Mossuddee, aged 24, presented as the key financial pyramid, and Sanjeev Bheemal Bissessur Latchooman, business partners until recently, are in custody.

The CCID, conducts investigations on other names that are known now different authorities. Have all, in one way or another, participated in this major undertaking fundraising according to the mode of operation of a Ponzi Scheme. Hundreds of customers have deposited sums ranging from Rs 10,000 to Rs 3 million since 2009. They benefited from exceptional rates of return ranging from 50% of the value of the sum within six months.

Arun Mossuddee, returned Tuesday from Britain, is one that holds many key affair. In his first statement after surrendered to police Thursday morning, March 28, he said he had nothing to do with the scandal that has burst. "I sold all companies on January 24 and at that time there were no complaints, " he said according to CCID good source.

Arun Mossuddee enlisted the services of a business lawyer and former investigator for the Anti-Corruption Commission, Roshi Badhain. The latter, who held a meeting with the police, we said Arun Mossuddee started completely at the disposal of the police, to shed light on this scandal  "He was Anlgeterre when he learned the whole thing . He was back in April, but chose to return without delay and to make available to the police, " he said.

After questioning at CCID, Arun Mossuddee was conducted in his luxurious home in Vacoas to collect documents proving that he has sold his business last January 24 Bheemal Bissessur. He told investigators that he sold all companies that operated under Whitedot Intl Consultancy Ltd as well as the portfolios of its many customers.

Arun Mossuddee was 20 years old when he started his business. He operated without the knowledge of the Financial Services Commission. He would, in fact, deposits for bank rate yields no operator can offer. Meanwhile, he had mounted several companies, including The pizza Napoletana, a car rental company, MiWay and was licensed tour operator.

However, as the strength of its business based on a pyramidal structure of financing, business losses were unsustainable. According to a big saver Whitedot is probably feeling the breath coming from his model Arun Mossuddee sold his business.

The businessman has also set up a company in Great Britain on behalf of Profame Gnius ltd. It was also the first name of his company in Mauritius which later became Whitedot, installed in a few square meters of a building in Ebony.

The clever businessman was caught by his business. After his arrest, a Mercedes car was seized by police on Thursday. Bank of Mauritius and the Financial Services Commission (FSC) are interested in its assets.

The police has registered more than 200 complaints and asked to all those who feel they have been wronged to go to the police station in their communities and more to come to CCID, the Central Barracks, Port Louis.