Ponzi: 44 Companies in the Crosshairs of the Police

12 years, 10 months ago - May 29, 2013

Ponzi: 44 Companies in Crosshairs of the Police

The Finance Minister Xavier-Luc Duval, revealed in Parliament on Tuesday that the Ponzi Scheme scandal could affect 44 related companies.

He said suspect that the disappearance of the funds invested by taxpayers could have been transferred to these companies. He also said that Mauritius has sought the assistance of the World Bank (WB) to see more clearly in the scandal Ponzi Scheme. A team from the World Bank is expected in Mauritius at the end of the month. Steps are being taken to recover the taxpayers' money. On the one hand, the Assets Recovery Unit seizes goods companies as the Bank of Mauritius and the Financial Services Commission to conduct audits from 17 companies.

Great treasurer, responding to a question from MP Reza Uteem said that using the Serious Fraud Office will be sought.

Regarding companies that operate without operating permit, Xavier-Luc Duval says that such cases had been reported in 2008. It was Fast Leasing Co Ltd. A "Freezing order" was issued against the said company March 20, 2008. The case was subsequently referred to police. The case is currently in court.

Text by Le Matinal

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