Mauritius revokes Bramer Bank licence, PM says Ponzi scheme found

April 3, 2015 11:20 AM

65 0

PORT LOUIS , April 3 (Reuters) - A "Ponzi" investment scheme has been found at Mauritian lender Bramer Banking Corp Ltd (BBCL), the Indian Ocean's premier said on Friday, after the country's central bank revoked its banking license and appointed liquidators.

The central bank said an onsite examination conducted at BBCL from Jan. 22 to Feb. 20 revealed a number of significant deficiencies which had been conveyed to the bank.

Read more

To category page