[Breaking News] Alleged Money Laundering: Mamy Ravatomanga to be Heard by the FCC This Wednesday

[Breaking News] Alleged Money Laundering: Mamy Ravatomanga will be heard at the Financial Crimes Commission (FCC) this Wednesday.

Confirmed by Attorney Siddhartha Hawoldar on Wednesday, November 5. His client, Maminiaina Ravatomanga, known as "Mamy," is expected at the Financial Crimes Commission (FCC) this morning.

"We are here in front of the FCC awaiting our client Mamy, who will be brought out in an ambulance from the clinic under medical supervision. As agreed with the FCC, we will have a four-hour working session, after which, based on medical directives, my client Mamy will be returned to the clinic and placed at rest under medical observation," Attorney Siddhartha Hawoldar told reporters.

It is important to note that on October 24, 2025, Mamy Ravatomanga was arrested by the FCC while he was admitted to a private clinic in Phoenix, Mauritius. He is accused of money laundering and illicit fund transfers from Madagascar to Mauritius and will have to address suspicions of embezzlement raised by Malagasy nationals.

On October 15, the FCC obtained a Criminal Attachment Order from the Supreme Court, freezing Mamy Ravatomanga's bank accounts, those of his wife, and several companies affiliated with his group, for an estimated amount of 180 million USD. The aim of this measure is to prevent any suspicious fund transfers to other jurisdictions.

For context, Mamy Ravatomanga is a powerful Malagasy-Ivorian businessman regarded as one of the key economic players in Madagascar and a close adviser to former Malagasy President Andry Rajoelina. Born in 1968, he is the founder and leader of the Sodiat Group, a conglomerate active for over 35 years in various sectors such as trade, import-export, real estate, transportation, agro-food, energy, media, and security.

Additionally, Mamy Ravatomanga is also quite active in Mauritius. He owns several local companies, including Auto Diffusion Ltée and First Class Immobilier Ltd, established respectively in 2009 and 2010, and maintains banking relationships with several reputed Mauritian institutions. These economic ties have made the island a strategic hub for some of his operations, which explains the local authorities' attention to his presence.

On the night of October 11 to 12, 2025, Mamy Ravatomanga arrived in Mauritius aboard a private Cessna jet, accompanied by former Malagasy Prime Minister Christian Ntsay and his associates. This arrival stirred controversy, as it occurred amid protests by Generation Z in Madagascar, denouncing corruption and financial networks linked to associates of the ousted president. The landing of the aircraft at Plaisance airport, deemed controversial by some observers, accelerated the opening of an investigation by the Financial Crimes Commission (FCC) on October 13, 2025, following a complaint filed by Malagasy nationals residing in Mauritius.