Menlo Park demands $19.55 million from Bank of Mauritius
Company claims former central bank governor Rama Sithanen sought commission on financing deal before his appointment.
Menlo Park Ltd served a legal demand on the Bank of Mauritius on October 30, seeking $19.55 million in damages. The company claims $9.25 million for loss of share value, $5.3 million for lost investment, and $5 million for reputational damage. The bank has one month to comply or face legal action.
The demand alleges that Rama Sithanen, his son Tevin Sithanen, and Ziyad Bundhun discussed a financing request with Menlo Park between October 17 and 24, 2024. According to the claim, Rama Sithanen suggested he could unblock $6.3 million from the MIC if a commission was paid to him or his son. Menlo Park states it refused this arrangement.
After Rama Sithanen became governor on November 16, 2024, he publicly called the MIC investment a fraud on December 7, 2024, freezing Menlo Park's account. The company views this as retribution. A WhatsApp call recording from November 12, 2024, involving Tevin Sithanen, has also become public, with claims of his father's influence over the MIC and threats of arrest.