A court in Mauritius has granted bail to former Finance Minister Renganaden Padayachy, who is facing fraud allegations over the suspected embezzlement of millions in public funds from a state-owned company set up to support pandemic-hit businesses.
A court in Mauritius has granted bail to former Finance Minister Renganaden Padayachy, who is facing fraud charges linked to the alleged embezzlement of funds from a state-owned company, according to his lawyer and the country’s financial crimes commission.
Padayachy and former central bank governor Harvesh Seegolam were arrested last week in connection with the reported misappropriation of 300 million Mauritian rupees (approximately $6.7 million) from the Mauritius Investment Corporation. The Corporation was established to support businesses affected by the economic impact of the COVID-19 pandemic.
Both Padayachy and Seegolam deny any wrongdoing. Seegolam was granted bail last week, and on Monday, Padayachy was also released on bail after the financial crimes commission confirmed it did not oppose the application.
Padayachy’s lawyer, Raouf Gulbul, welcomed the decision and stated that his client would remain available for any further questioning.
The current government, led by Prime Minister Navin Ramgoolam—who came to power following elections in November—has accused the previous administration, under which Padayachy and Seegolam served, of manipulating data related to economic growth, budget deficits, and public debt over several years.
Iran is grappling with a worsening water crisis, with more than 20 of its 31 provinces suffering from severe shortages that have left the capital Tehr...
Elon Musk’s satellite internet service Starlink faced a rare global outage on Thursday, affecting tens of thousands of users and prompting a swift r...
The International Criminal Court (ICC) has sentenced two former Anti-Balaka militia leaders from the Central African Republic to lengthy prison terms ...
At least 14 people were killed on the Thai side — including a soldier and a child — after a day of airstrikes and rocket fire between Thailand and...
An Indian company shipped $1.4 million worth of military-grade explosives to Russia late last year, according to Indian customs data obtained by Reute...
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Ukraine and Russia attacked targets on each other's territory on Thursday after brief direct talks between the two sides failed to make any progress on steps to end nearly three-and-a-half years of war.
Nigeria has submitted a formal bid to host a Formula 1 Grand Prix, in what officials are calling a landmark effort to place the country on the global motorsport map.
The International Criminal Court (ICC) has sentenced two former Anti-Balaka militia leaders from the Central African Republic to lengthy prison terms for war crimes and crimes against humanity.
At least 14 people were killed on the Thai side — including a soldier and a child — after a day of airstrikes and rocket fire between Thailand and Cambodia, as border tensions over a disputed area erupted into the worst fighting in years.
An Indian company shipped $1.4 million worth of military-grade explosives to Russia late last year, according to Indian customs data obtained by Reuters — despite repeated U.S. warnings that supplying Russia’s war effort in Ukraine could trigger sanctions.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment