A warrant has been issued for the arrest of Harvesh Seegolam, the former governor of the Bank of Mauritius, in connection with an ongoing investigation into alleged conspiracy to defraud, Bloomberg reports.
The order, published in a Mauritian newspaper on Sunday, instructs airport authorities to apprehend Seegolam upon his return to the country.
Seegolam, 41, served as governor from March 2020 until November of the same year, when he was replaced following the election victory of the four-party Alliance du Changement. Rama Sithanen assumed the governorship in his stead.
The Mauritius Police Force spokesperson declined to comment on the specifics of the arrest warrant, and Seegolam has yet to respond to requests for comment.
The investigation appears linked to criticism leveled against the central bank by Prime Minister Navinchandra Ramgoolam in his recent State of the Economy report. Ramgoolam specifically condemned the creation of the Mauritius Investment Corp (MIC) in 2020, highlighting concerns about its funding mechanism and investment portfolio.
The report states that the MIC’s funding through money printing and its investment strategy have exposed the Bank of Mauritius to significant credit risk and potential balance sheet losses. Any losses incurred by the MIC would directly impact the bank’s profitability and financial stability, the report warns.
The arrest warrant underscores the gravity of the allegations against Seegolam and suggests a significant investigation into the financial practices of the Bank of Mauritius under his leadership.
