Former Mauritius central bank governor charged with fraud, released on bail

Mauritius Minister of Finance Renganaden Padayachy arrives for the first day of a European Union- African Union summit at the European Council building in Brussels, Belgium, 17 February 2022. John Thys/Pool via Reuters/File Photo

Seegolam and former finance minister Renganaden Padayachy have denied wrongdoing in the investigation into the reported embezzlement of 300 million Mauritius rupees ($6.70m) from the Mauritius Investment Corporation, set up to help companies deal with impact of the Covid-19 pandemic.

"Seegolam is collaborating with the authorities. He is giving all evidence and information related to this case," Seegolam's lawyer told reporters.

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The government of Prime Minister Navin Ramgoolam, who won power in a November election, has accused the previous administration, under which the two former officials served, of falsifying data on economic growth, the budget deficit and public debt for years.

One of Ramgoolam's first moves was to launch an audit of public finances. His predecessor, former prime minister Pravind Jugnauth, was arrested in February on charges of money laundering, which he has denied.