Mauritius & Seychelles and a Financial Crime Scandal that includes a Billionaire, a Boeing, and a Billion-Rupee Web of Influence

IT HAS BEEN WIDELY REPORTED THAT Mauritius is at the epicentre of a high-stakes international scandal involving Mamy Ravatomanga, a powerful Malagasy businessman and close ally of the ousted Madagascar President Andry Rajoelina.

The case, which has rocked both Mauritius and Madagascar, is rapidly evolving into one of the most complex financial crime investigations in the region’s history.

The Allegations

Ravatomanga fled to Mauritius in mid-October 2025 following a military coup in Madagascar. Days later, he was arrested by the Financial Crimes Commission (FCC) on charges of

• Laundering Rs 7.3 billion (approx. $163 million)
• Through a network of Global Business Companies (GBCs) and shell entities registered in Mauritius, Seychelles, and potentially Dubai. [defimedia.info]

The FCC has since frozen his assets, including:

• Rs 6.5 billion in corporate accounts
• Rs 858 million in personal accounts [loop.mu]

Boeing to Iran: Sanctions Violations?

• Adding to the intrigue, Ravatomanga is allegedly linked to the illegal transfer of five Boeing 777 aircraft to Iran’s Mahan Air, a move that may violate U.S. sanctions.
• The planes were reportedly transferred using falsified registration certificates issued by Madagascar’s Civil Aviation Authority. [trtafrika.com]
• Madagascar has requested an Interpol Red Notice for Ravatomanga’s arrest, citing his role in the aircraft deal.
• However, Mauritian authorities have prioritised their own investigation before considering extradition. [loop.mu]

Influence Peddling and FCC Infiltration

The scandal deepened with revelations of attempted influence peddling within the FCC itself. Ravatomanga allegedly sought to manipulate the investigation through intermediaries:

• Nasser Bheeky, arrested while attempting to flee to Dubai
• David Jean Christian Thomas, Ravatomanga’s right-hand man at the Sodiat Group, charged with conspiracy to launder Rs 20 billion
• Junaid Fakim, a former FCC commissioner, who resigned after a secret meeting with Ravatomanga was exposed [loop.mu], [lexpress.mu], [newsmoris.com], [loop.mu]

Investigators uncovered the meeting through intercepted messages and phone data, revealing a coordinated effort to derail the FCC’s probe.

A Regional Financial Web

• The FCC’s investigation has revealed a complex offshore structure involving GBCs in Mauritius and Seychelles. These entities are suspected of being used to conceal and transfer illicit funds originating from Madagascar. [defimedia.info]
• Mauritius, often seen as a financial haven, now faces scrutiny over its regulatory framework and vulnerability to high-risk capital flows.

Political Fallout

The scandal has political ramifications across the Indian Ocean:

• In Madagascar, Ravatomanga’s arrest follows the ousting of President Rajoelina, who fled alongside him.
• In Mauritius, the case has triggered a credibility crisis for the FCC and raised questions about the integrity of its financial system. [lexpress.mu]

What’s Next?

• Ravatomanga remains under medical surveillance at a clinic in Phoenix, Mauritius, while the FCC continues its investigation. More arrests and international cooperation are expected as authorities unravel the full extent of the financial network.

SOURCES

• https://defimedia.info/enquete-sur-ravatomanga-le-mode-operatoire-dun-reseau-financier-opaque
• https://www.devdiscourse.com/article/law-order/3673521-high-stakes-money-laundering-the-arrest-shaking-mauritius
• https://loop.mu/article/227647-according-to-the-fcc-rs-73-billion-frozen-in-mamy-ravatomangas-accounts-suspected-to-be-from-criminal-activities