Allegations of Money Laundering and Collusion: FCC Investigates Over 100 Companies in the Ravatomanga Case

Title: Allegations of Money Laundering and Collusion: FCC Investigates Over 100 Companies in the Ravatomanga Case

Content: The Acting Head of the Financial Crimes Investigation Division, Daniel Chung Yen, stated that financial analyses are currently underway on a set of documents totaling around 10,000 pages. Additionally, the Financial Crimes Commission (FCC) is investigating over 100 companies. He spoke on Thursday, November 6, 2025, during the court appearance of Malagasy businessman Maminiaina "Mamy" Ravatomanga.

He provided an update on the FCC's investigation into the Malagasy tycoon. Mamy Ravatomanga has been charged with three provisional counts: one for collusion and two others for money laundering. The alleged crimes occurred on October 14 and 24, 2025.

The Acting Head of the Financial Crimes Investigation Division explained that the Malagasy businessman was arrested on October 24, 2025. However, it wasn't until November 5, 2025, that the FCC could take his initial statement due to his health condition.

Furthermore, he revealed that the commission has filed a request for a "Judge’s order" and a "disclosure order" to obtain documents from certain financial institutions as part of this case.

The FCC has also formed a team to analyze approximately 10,000 pages of documents. Concurrently, it is investigating more than a hundred companies, including private, offshore, local, and international firms, involving several foreign jurisdictions. According to the Acting Head of the Financial Crimes Investigation, this is a lengthy and complex investigation, but it is making steady progress.

Daniel Chung Yen also indicated that the FCC is concurrently investigating a separate case of influence peddling. He added that the commission has already interviewed several witnesses as well as individuals considered "suspects" in this matter. These statements from the Acting Head of the Financial Crimes Investigation Division were made during his interrogation by Me Atish Roopchand, lawyer for the FCC.

The FCC opposes the release of the Malagasy businessman

Mamy Ravatomanga was provisionally charged on Thursday, November 6, 2025, before the Port Louis court. The FCC opposed his bail request, citing a risk of evidence tampering, witness intimidation, and flight risk. He remains in provisional detention until his next court appearance scheduled for November 13, 2025. Moreover, he is prohibited from leaving the country, with a travel ban issued against him.

Motion to dismiss provisional charges

During Thursday's hearing, Me Siddhartha Hawoldar requested that the provisional charges against his client, Mamy Ravatomanga, be dismissed. He cited procedural abuse, illegal arrest, and lack of reasonable suspicion. He argued that the rights of the businessman have been violated, infringing Articles 5(b) and 10(1) of the Constitution, thus depriving him of his freedom and right to a fair trial, especially since his client is a diplomat.

The lawyer also stated that there is no "substantial evidence" to uphold the provisional charges against the Malagasy billionaire. He further questioned the legitimacy of the Acting Director of the FCC, Tritudeo Sanjay Dawoodarry, and the commission's competence, accusing it of investigating "its own personnel," a situation he describes as a conflict of interest.

Me Siddhartha Hawoldar added that this case is causing significant harm to his client.

The FCC lawyers, Mes Atish Roopchand and Preesha Bissoonauthsing, opposed this motion. The debates have been scheduled for November 27, 2025, by Magistrate Prashant Bissoon.

It is worth noting that Mamy Ravatomanga has also enlisted the services of Mes Khushal Lobine and Nirakar Hawoldar.

What Mamy Ravatomanga is accused of

Mamy Ravatomanga, 56, faces three provisional charges before the Port Louis court: two charges of money laundering and one of collusion.

According to the first and second charges, this company director, currently residing in Belle Vue Harel, is suspected of having possessed Rs 6,456,055,996.29 and Rs 858,489,298.21, respectively, in various banking institutions. These amounts are believed to have originated from illegal activities. The crimes are alleged to have been committed on October 24, 2025, on Mauritian territory.

As for the third charge, Mamy Ravatomanga is accused of having made an agreement with David Jean Christian, Nasser Osman Beekhy, and Me Junaid Haroon Fakim, former FCC commissioner, to commit the offense of influence peddling as part of an ongoing investigation by the commission.

The billionaire's health status is debated

The billionaire faces provisional charges, and the question arose as to whether he would be remanded in police custody or transferred to the Premium Care clinic in Phoenix. On Thursday, November 6, Magistrate Prashant Bissoon ruled after hearing the Malagasy businessman’s attending physician, Dr. Mamode Aniffkhan Yearoo, a cardiologist. He ordered that Mamy Ravatomanga be placed in provisional detention in a police cell, while specifying that he should receive medical assistance in case of discomfort.

This decision comes after Me Atish Roopchand drew the court's attention to the fact that the businessman is now under judicial control.

During the hearing, Me Siddhartha Hawoldar emphasized his client’s health condition, mentioning a letter from the attending physician submitted to the FCC detailing Mamy Ravatomanga’s medical situation. However, for Me Roopchand, this correspondence concerns only the ongoing investigation, and it is up to the court to decide on this matter.

The defense lawyer also clarified that his client is admitted to a private clinic "at his own cost" and that the Court "has to protect the welfare of a suspect." He added that all necessary arrangements would be made to ensure his client can appear before the court.

On Thursday, Mamy Ravatomanga was transported by ambulance, accompanied by medical personnel and escorted by members of the Special Response Unit, the Special Supporting Unit, and FCC officers, for his appearance in court for provisional indictment. Heightened security measures were in place for his appearance, with the presence of uniformed and plainclothes police officers.

At about 1:45 PM, the Court ordered that Dr. Yearoo be summoned to enlighten the magistrate about the billionaire's health status. Dr. Ahmud Soreefan, a consulting cardiologist at Victoria Hospital, was also present in court on behalf of the FCC. At 2:42 PM, Dr. Yearoo arrived. Called to the stand, he explained that he has been following Mamy Ravatomanga for 15 years and that the latter suffers from "spastic angina pectoris," a condition for which he is being treated. According to the cardiologist, his patient needs rest and must avoid all stress, otherwise, he risks a potentially fatal heart attack.

The doctor specified that Mamy Ravatomanga’s condition "is not completely stabilized and needs further investigation. He may face surgical intervention." He added that the patient has been examined by seven state doctors, whose diagnoses align with his own.

Spastic Angina Pectoris

This is a type of angina caused by the temporary narrowing (spasm) of the coronary arteries, which limits blood supply to the heart. This phenomenon causes chest pain, sometimes intense. (Source: Internet)