Mauritius’s future as an offshore financial centre is under threat after the island state’s Prime Minister Anerood Jugnauth announced its central bank has uncovered evidence of a Ponzi scheme. It has revoked the licence of listed Bramer Bank Corporation as a set towards addressing what Mr Jugnauth described as an “unprecedented financial scandal.” The closure of the bank follows last week’s suspension of a third Mauritius-based entity of alleged Ponzi scheme operator Belvedere, which is controlled by South African Cobus Kellermann and his Irish national partner David Cosgrove.
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