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Mauritius - Silver Bank Auditor suspended for filing an AML “STR” linked to Prateek Gupta


It has been reported in Mauritius [] that “YANISH SADASING”, a young internal auditor at SILVER BANK was suspended after uncovering suspicious transactions.

The suspicions are connected to PRATEEK GUPTA who is accused of a $577 million nickel FRAUD/SCAM against commodities giant TRAFIGURA GROUP. Further SILVER BANK’S MAJORITY OWNER has links to PRATEEK GUPTA .

Among YANISH SADASING discoveries:

  • Loans of about Rs 7.7 billion granted to companies linked to Prateek Gupta, and
  • Transfers of Rs 18 million made from the bank's coffers.

It has been reported that YANISH SADASING refused to retract his statement despite threats and offers of gifts.

This news follows 2023 events:-

  • In February 2023,
    • The Mauritian regulators had started to examine Silver Bank in wake of Trafigura nickel fraud case
    • The Bank of Mauritius confirmed to the FT
      • That the counterparty involved in the alleged fraud against Trafigura is linked to one of the ultimate beneficial owners of Silver Bank.
    • The UK FT reported.
      • A director at Mauritius-based Silver Bank and a director at its sole shareholder have both previously worked for Indian businessman Prateek Gupta,  
    • Trafigura launched legal proceedings in London against Gupta and a group of companies connected to and controlled by him after having found that some nickel cargoes it received did not contain the metal.
    • The London court imposed a global freezing order
  • In December 2023
    • Gupta failed in his attempt to get a London court to lift a global freezing order on his personal and business assets in a fraud case brought by Trafigura about nickel cargoes.



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