Fight against money laundering: Keshwarsingh Nadan caught up in a bitcoin affair estimated at Rs 80 million

Suspected of illegal bitcoin transactions amounting to Rs 80 million, Keshwarsingh Nadan appeared in court. The Financial Crimes Commission's investigation is now exploring international criminal networks.

Keshwarsingh Nadan, a 36-year-old Software Engineer living in Flic-en-Flac, was arrested on Thursday April 9. This case, where foreign currencies and digital assets intertwine, is based on suspicions of money laundering.

According to the Financial Crimes Commission (FCC), the suspect is in possession of around Rs 80 million, an amount spread across two bank accounts. The FCC, which has examined its online transactions in recent years, considers the origin of these funds suspicious. More precisely, 1.46 million euros (or approximately Rs 79.38 million) were detected in the form of cryptocurrencies.

After a night in cell, the engineer was released on parole on Friday. During his provisional indictment for money laundering before the Port-Louis court, he had to provide three sureties of Rs 500,000 each, as well as an acknowledgment of debt of Rs 3 million. He is now subject to an obligation to report daily to his local police station.

The investigation focuses on a possible “illegal trade” in Bitcoins. During Thursday's operation, several computer devices were seized. This equipment, real evidence, was transferred to the FCC forensic laboratory. Experts hope to uncover crucial data: transaction histories, access to digital wallets or electronic correspondence.

One of the major axes of the investigation is based on the international dimension of the case. Investigators suspect that the platforms used are based abroad, thus facilitating the transfer of funds outside traditional banking circuits.

The name Keshwarsingh Nadan is not unknown to the police. In the past, he had already been involved in a fraud investigation carried out by the Central Criminal Investigation Department (CCID), a case which already concerned bitcoin transactions. At this point, the FCC is awaiting detailed explanations from the suspect to determine whether these assets are linked to larger criminal activities.

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