On April 9, 2025, Renganaden Padayachy was arrested as part of an investigation into the alleged embezzlement of funds from the Mauritius Investment Corporation. The funds were intended to support companies affected by the economic impact of the COVID-19 pandemic. Authorities allege that Padayachy, along with former Central Bank Governor Harvesh Seegolam, misappropriated 300 million rupees (approximately $6.7 million). Padayachy denies the accusations.
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