Mauritius Government holds 8.2 million Britam shares worth about KSh 58 million. The shares were seized from Mr. Dawoot Rawat, a Mauritian citizen who was charged with operating a Ponzi Scheme in 2015.
Mr. Dawoot had bought 460 million shares from Britam Holdings through two investment firms.
The Mauritian Government seized Mr. Dawoot’s investments including his shares in Britam holdings after he was accused of the KSh71 billion fraud.
The Island country sold 452 million shares of the seized investment to a group of companies headed by the renowned businessman Peter Munga. The sale was meant to compensate victims of Mr. Dawoot’s fraud.
Subsequently, Peter sold the shares to a Zurich insurance company Swiss Re and other investors. 8.2 million shares are still being held by the Mauritius Government.
In a statement, Britam denied that it had been involved in share transactions between the government of Mauritius and private investors.
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