Mauritius has issued an arrest order for former finance minister Renganaden Padayachy over an alleged embezzlement investigation following the recent arrest of the former central bank governor.

Harvesh Seegolam, the former central bank governor, was released on bail after being charged with conspiracy to commit fraud. He was arrested over the weekend and is linked to the investigation into alleged financial misconduct.

The arrest order for former finance minister Renganaden Padayachy is part of an ongoing investigation into alleged embezzlement. It focuses on a disbursement of 45 million rupees to Menlo Park Ltd., which allegedly harmed the Mauritius Investment Corporation (MIC).

These arrests represent the first significant actions by Prime Minister Navin Ramgoolam’s government, which has accused the previous administration of manipulating economic figures such as GDP, budget deficits, and public debt.

Padayachy has yet to respond to the arrest order, and Seegolam’s lawyer declined to comment after his release from detention on Saturday. The government also accused the central bank of printing money to support MIC, created in 2020 to assist businesses affected by the COVID-19 pandemic.

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