Allegations of State Capture: Mamy Ravatomanga's Transactions Over the Last Seven Years Scrutinized
Mamy Ravatomanga has been interviewed by the Financial Crimes Commission (FCC) regarding various transactions made over the past seven years in Mauritius. The commission, which is continuing its hearings at the Melrose prison, seeks to gather details about the nature of the financial operations carried out by the Malagasy businessman in Mauritius.
The FCC is already examining bank accounts linked to Mamy Ravatomanga in several financial institutions. The aim is to confront him with the transfers of Rs 7.3 billion made at various recent intervals to his Mauritian accounts, prior to his urgent arrival in Mauritius from Madagascar. At this stage, the accounts associated with Mamy Ravatomanga have been frozen. The investigation is focusing on a type of "state capture" offense orchestrated by the businessman in Madagascar under the previous regime, involving former Prime Minister Christian Ntsay, who is close to the billionaire.
The FCC is working to establish Mamy Ravatomanga's primary involvement in this crime, with the complicity of the former Malagasy Prime Minister. Information exchanges and mutual legal assistance requests with Malagasy authorities are expected to clarify the circumstances and gather evidence.
During hearings of members of the Malagasy Gen-Z movement, who denounced Mamy Ravatomanga shortly after his arrival in Mauritius, the complainants spoke of a "state capture" organized over ten years. According to them, several figures from the former government, with the complicity of their entourage, would have, alongside Mamy Ravatomanga within the Sodiat Group, set up an extensive control system over the country's commercial and financial activities. The Rs 7.3 billion transfer would, according to these members, be aimed at putting Madagascar in a financially difficult position.
For his part, Mamy Ravatomanga presented an affidavit during his interrogation. He denies allegations of embezzlement or money laundering, stating that the transactions across his multiple accounts pertain to his companies and have been conducted in compliance with standards and regulations. He indicated that he could produce tax documents from his businesses to justify these operations.
Meanwhile, Mamy Ravatomanga remains at the high-security prison in Melrose and is expected to spend the New Year festivities there. Interrogation sessions are set to continue in the coming days.
