Ex-Fenaka chief escapes charges over dollar scandal

Prosecutors have decided against charging former managing director of Fenaka Corporation Ahmed Nimal over the purchase of US dollars for the state owned utility company.

Sharu Launch Services had agreed a contract to acquire US dollars for Fenaka and State Electric Company Limited (STELCO).

Feneka had paid MVR17 million to acquire USD1 million while STELCO had paid MVR3.1 million for USD200,000. However the checks both stamped by Mauritius Commercial Bank (MCB) had bounced, prompting both companies to sue Sharu Launch Services over its failure to hold up its end of the contract.

Questions have been raised over the contract between the state owned companies and Sharu Launch Services, when the speedboat firm is not licensed by the country's central bank to deal with foreign currency exchanges.

Anti-Corruption Commission (ACC) had sought charges against four which included Nimal over the unlawful purchase of foreign currency.

ACC president Hassan Luthfee told Avas on Wednesday that the prosecutor general's (PG) office would not be filing charges against all four, but refused to comment on the reasons behind the dismissal of the case.

"PG office had also highlighted several reasons behind its decision. We will decide on it after the members sit-down," Luthfee added.

The PG office was not immediately available for comment.