Scammers of Mauritius Beware before you invest

Alleged Fraud of Rs 700 Million: Police Conducts Two Arrests
Twists in the investigation into the alleged fraud of Rs 700 million. Late in the evening of Tuesday, police arrested two protagonists of this case. In the wee hours Wednesday, investigators had sealed to the premises of the company in Ebony.

In this Wednesday morning, hundreds of alleged victims went to the Central CID to file a complaint against the director of Whitedot International Consultancy Ltd (see photo top of page).

This is Cangayen Pillay, President of the Association of Victims of sale at the bar, which has the Independent Corruption against Corruption (ICAC) aware. Rs 700 million were transferred to Switzerland.

Whitedot International Consultancy Ltd, an investment company based in St James Court, Port-Louis, which has an office in Ebony Heights, had promised to Mauritian customers attractive returns on their investments. On Tuesday, three alleged victims after significant investments have complained to the Central Criminal Investigation Department (CCID). Daily Challenge has made several attempts to contact a representative of International Consultancy Ltd Whitedot. In vain.

The investment company would operate without a license, says one to the Financial Services Commission (FSC), which states that an investigation has been initiated. Anti-Corruption Commission (ICAC), she did not wish to comment on the matter, stating that the information "remain confidential".

Whitedot International Consultancy Ltd, offering rates of return, would give rise to a financial doubtful. Last week, the Bank of Mauritius (BoM) has issued a statement to warn the public of certain dangers: "Only banks and non-banking institutions authorized by the Central Bank may accept deposits. '

The public is advised, according to the press release, check the regulatory status of individuals or companies who policent deposit is duly authorized and regulated by the BoM before investing. Audits may also be at the FSC.

On Tuesday, three "investors" have complained to the Central CID. It is expected that others will follow the steps on Wednesday. About fifty people came to the headquarters of International Consultancy Ltd Whitedot to demonstrate. But to their great disappointment, there was nobody. Director, alleged mastermind of the scam Rs 700,000, has already left the country. He was helped by two strangers.

Mr George is one of the victims. It had invested Rs 50,000. Letting themselves influenced by large amounts it has benefited from the company, it has reinvested Rs 200,000. "It's the radio that I learned that we were ripped off. I do not know what to do. I lost all my savings, "says this man of sixty years not knowing which way to turn.

One must be really DAFT to believe that you can get an ROI of 50% over 6 months.
Well some do believe that pigs can fly  or they've never heard the term "Ponzi scheme".

Something I can't  grasp : How was the transfer to a  European bank done? where is the control? Unless one of those off-shore companies is involved somehow , someways - one never knows in Mauritius

I remembered  how p.i.t.a. it was when my parents had to transfer money twice for my uni expenses .

Hey,

This is an excellent thread. I suggest all those who know of or victims of any kind of scam in Mauritius should post on this thread so that there can be more awareness among locals and expats and their hard earned money can be saved.

Cheers
Terence

nothing is more painful than being cunned of your hard earned money, happened to me in my country, obviously which is known for such, but then again pple should always smell a rate if someone promises such high rate within a short period, that's so the Ponzi Scheme signature.