Financial Corruption Rocks Seychelles: A Year After Arrests, Questions Remain Unanswered

November marks a year since prominent businessman Mukesh Valabhji and his wife Laura were arrested by police on suspicion of money laundering $50 million.

The Case: A Brief Overview

The case is related to funds granted to the Seychelles government by the United Arab Emirates in 2002, which were allegedly used to pay for hotels sold in the privatisation of COSPROH holdings.

Arrests and Investigations

Since the arrests, several high-level officials have been taken into custody, including:

Former Minister Maurice Loustau-Lalanne
Leikha Nair, a former Director General at the Ministry of Finance
Sarah Zarqhani Rene, the wife of late President France Albert Rene

The Allegations

The prosecution alleges that Valabhji’s company received $50 million from the Seychelles government and then returned it to the country to pay for hotels sold in the privatisation of COSPROH holdings. A search of the couple’s residence revealed a cache of arms, which led to the arrest of Leslie Benoiton, a senior officer in the former Seychelles People’s Defence Forces.

Ongoing Investigations and Trials

As the case unfolds, questions remain about the role of high-level officials and the extent of financial corruption in Seychelles. The Supreme Court has set:

December 1 as the date for the arms and ammunition trial
April 13, 2023 as the date for the corruption case

What’s Next?

As the trials unfold, it remains to be seen whether justice will be served and accountability will be held accountable. One thing is certain: the people of Seychelles are demanding answers and transparency in this high-profile case.

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