Judge freeze Assets in an alleged $ 11 million fraudulent and money laundering case in Mauritius

Suspected fraud of Rs 500 M: Stanford Asset Holding Ltd searches in Mauritius for the millions of dollars that were stolen from it

Stanford Asset Holding Limited, an international trading company registered in Seychelles, and its subsidiary Greenway PCC registered in the Mauritian offshore, claim to be victims of fraud amounting to 11,145,000 US dollars, or approximately Rs 500 million.

The loan of 11,145,000 US dollars was to be used to carry out real estate projects by Key Stone Properties, including North Point 1 in Grand-Baie.

It is claimed:-

• The money representing the funds of investors was illegally transferred from the bank account held at AfrAsia to that of Key Stone Properties Ltd.

Stanford Asset Holding Limited (SAHL), an international commercial company registered in Seychelles, and its subsidiary Greenway PCC registered in Mauritius offshore, say they are victims of alleged fraud, which amounted to 11,145,000 US dollars, the equivalent of Rs 500 million.

• SAHL argues money representing investors' funds was
  • Illegally transferred on February 17, 2022, from the bank account it holds at AfrAsia
  • To that of Key Stone Properties Ltd, still at the same bank.
• SAHL cites two local directors of Fudiciam Corporate Ltd (FCL) as suspected accomplices in the fraud,
  • The company acted as the Management Company of SAHL and Greenway PCC.
  • The two executives pointed out are Abdel Muammar Taysee Goolbar and Mohammad Munawar Shakeel Ah Seek.

To trace the movement of its money,

• On July 21, 2023, SAHL obtained a favourable judgment from the Privy Council, which ordered AfrAsia to disclose information on the recipients of the stolen money.
• The bank resolved to provide the information required by SAHL.

Among the presumed beneficiaries identified, SAHL cites

• The members of two families. One from Chemin-Grenier and the other from Curepipe.
• Their assets were also frozen for various amounts.

The interim order relating to the freezing of assets

1. 1,145,000 US dollars (USD) to be frozen on behalf of Al Hisra International Trade Limited (AHITL), based in Rivière-Noire.
   • Hamza Aneel Goolbar and Israbee Goolbar, from Chemin-Grenier, are the directors of AHITL and close to Abdel Muammar Taysee Goolbar.
2. USD 4685.58 in the name of Miss Noorina Goolbar.
3. USD 140,515.23 and Rs 13,593,787 in the name of Patrice Mike Lajeunesse, a resident of Curepipe. He is the director of Key Stone Properties Ltd (KSPL).
4. Rs 4.5 million in the name of Claudia Lajeunesse, wife of Patrick Mike Lajeunesse.
5. Rs 27,351,580.49 for TGL Development Ltd and its director Gislain Stephano Lajeunesse.
6. Rs 5 million in the name of Ilyan Lajeunesse, received through KSPL.
7. 3 million euros in the name of Frederic Joseph Touati of Bel-Ombre.
   • He was a shareholder of KSPL.
8. USD 46,750 (i.e. Rs 2 million) in the name of MP Khushal Lobine, from Camp-Fouquereaux.
   • He is KSPL's lawyer. He denies any wrongdoing, arguing that the money he received represents his fees for the legal services he provided to KSPL.
9. Rs 1 million in the name of Mohammad Sehzaad Peerbucus, from Castel.
   • He is the director of Link-Value Lamar Resources (Mauritius) Ltd.
   • He signed a document for a "fictitious loan".
10. USD 200,000 on behalf of Yusuf Ali Maghoo, of Floréal. Amount paid by KSPL.
11. USD 12,565.85 on behalf of Cedar Rock Capital Management Ltd, Highlands.
    • The amount was transferred by Abdel Muammar Taysee Goolbar to this company
    • in which Mohammad Munawar Shakeel Ah Seek was a director.