According to the FCC: Rs 7.3 billion Frozen in Mamy Ravatomanga's Accounts, Suspected to Be from Criminal Activities
The sum is staggering: Rs 7.3 billion. This is the amount of funds that Maminiaina Ravatomanga, known as "Mamy", a powerful Malagasy businessman, is believed to hold in his bank accounts and those of the companies he manages.
According to the Financial Crimes Commission (FCC), these funds are suspected to stem from criminal activities committed in Madagascar over several years and have passed through various jurisdictions around the world.
This 56-year-old Malagasy national, who resides at Villa Hill-Side, Belle Vue Harel, was arrested on Friday by the FCC as part of an ongoing money laundering investigation. Investigators visited the clinic where Mamy Ravatomanga was hospitalized to serve him with the arrest notice. Since then, his hospitalization has been under FCC surveillance.
In a statement released on Friday night, the FCC indicated that there are reasonable grounds to believe that Mamy Ravatomanga, while managing several entities in Mauritius, was in possession of assets suspected to represent the proceeds of criminal activities. These assets include:
• Rs 6.5 billion (Rs 6,456,055,996.29) held in the accounts of the companies he manages (Charge No. 1),
• and Rs 858 million (Rs 858,489,298.21) in his personal bank accounts and those of his many businesses.
The total amount thus reaches Rs 7.3 billion (Rs 7,316,116,760.97).
The FCC specified that it obtained a Criminal Attachment Order targeting all of his personal accounts as well as those of his companies, for this total amount.
The FCC also claims to have identified local actors involved in this extensive investigation into large-scale money laundering.
The investigation is ongoing.
As a reminder, Christian Ntsay, recently ousted from his position as Prime Minister of Madagascar, and Mamy Ravatomanga, a close advisor to President Andry Rajoelina, arrived in Mauritius aboard a private jet registered 5R-HMR, belonging to the SODIAT group, during the night of October 11 to 12, 2025. This landing sparked significant controversy.
