Menlo Park Ltd Case: Mary Queenie Adam Exposes the 'Sithanen Deal'

New developments in the Menlo Park Ltd case: Director Mary Queenie Adam claims in an affidavit to possess evidence of a "Sithanen deal," a secret agreement involving Rama Sithanen and his son Tevin. This explosive document discusses illicit commissions and political pressure ahead of the elections.

Mary Queenie Adam, the director of Menlo Park Ltd, spares no words. She reveals in a sworn affidavit dated Friday, October 10, a "secret agreement" involving Rama Sithanen and his son Tevin within the Menlo Park Ltd case, which she likens to a "financial scandal."

This affidavit, prepared by attorney Jaykar Gujadhur, responds to one from the Mauritius Investment Corporation (MIC) dated May 16, 2025, in the case opposing Menlo Park Ltd to the MIC before the Supreme Court. It aims to support Menlo Park Ltd's request to dismiss the MIC's injunction from December 9, 2024, due to abuse of process.

For context, the MIC had obtained an interim order from a judge allowing them to disburse Rs 45,000,000 under a "Share Subscription Agreement" (SSA). This amount is currently under investigation for fraud.

On July 16, 2025, the MIC was informed through legal counsel that the executive directors of Menlo Park Ltd sought to inject new funds into the company to replenish the MIC's funds as per the "Subscription Proceed" of the SSA.

Additionally, in this affidavit, Mary Queenie Adam reveals a secret agreement involving Rama Sithanen, former Governor of the Bank of Mauritius (BoM), and his son Tevin Sithanen.

According to this document, both men allegedly attempted to negotiate a "dubious agreement" with Menlo Park Ltd, which was seeking funding of $6.3 million (approximately Rs 287 million at the current exchange rate) from the MIC.

Ziyad Bundhun, the exclusive financial advisor to Menlo Park Ltd, is said to have acted as an intermediary between the Sithanens and the company. The proposed agreement stipulated that if the Alliance of Change won the elections, Rama Sithanen would head the MIC and grant full funding to Menlo Park Ltd.

In exchange, Rs 22 million in illicit commissions were to be paid: Rs 15 million to Tevin Sithanen through One Infinity Company, linked to One Arc, a Singapore-based firm where Rama Sithanen is a shareholder. Furthermore, Rs 7 million was to be paid to Ziyad Bundhun.

The agreement also included a request made to Pulse Analytics to halt the publication of sensitive electoral maps during the election period.

According to the affidavit, pressure was allegedly exerted on Menlo Park Ltd to delay signing a $1 million funding agreement until after the elections.

In light of these actions, Menlo Park Ltd claims to have alerted the authorities before signing or receiving funds. Ironically, the directors of Menlo Park, Stéphane and Mary Queenie Adam, were arrested and provisionally charged for the very actions they reported.

Stéphane Adam and Aditi Boolell firmly opposed this agreement. Following this, they allegedly received threats from Tevin Sithanen after the elections via WhatsApp. These threats were included in a sworn affidavit signed by Stéphane Adam and Aditi Boolell on September 19, 2025.

According to Mary Queenie Adam, after the appointment of Rama Sithanen as Governor of the BoM, he appointed Kreeti Harrah as the officer in charge of the MIC. Under Rama Sithanen's instructions, a complaint was reportedly filed against Menlo Park Ltd with the Central Criminal Investigation Department (CCID).

Moreover, Mary Queenie Adam emphasizes that Kreeti Harrah confirmed not to have knowledge of the events or documents related to this case when she filed the police complaint.

The Menlo Park director adds that "the majority shareholders of Menlo Park were against the sheer pressure and proposal of Ziyad Bundhun to defer the MIC process until after the elections."

This affidavit also contains a timeline of events, screenshots, and several documents dated from October 17 to 24, 2024, which Mary Queenie Adam refers to as the "Sithanen deal." This document will also be forwarded to the Anti-Money Laundering Unit (AML) by Stéphane Adam to support his statements in the Menlo Park Ltd case.