BAI Saga: Pyramid Scheme, Ponzi Scheme, Ponzi-like Scheme or Political Vendetta and Conspiracy?

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This paper sheds light on the collapse of the British American Investment conglomerate in Mauritius also known as the BAI Group. According to the Government of Mauritius, the BAI Group was operating a vast Ponzi Scheme via its banking subsidiary known as the Bramer Banking Corporation Ltd (BBCL). Furthermore, according to the report of nTan Corporate Advisory Pte Ltd which is a consultant of the Bank of Mauritius, the BAI Group’s subsidiaries such as the British American Insurance (BAI Co. (Mtius) Ltd) and Bramer Property Fund (BPF) were operating ‘Ponzi-like Schemes’. Which is which? This paper analyses the other end of the spectrum from a critical perspective based exclusively upon the Academic Literature and takes up the gauntlet with intrepidity to “Give The Devil His Due”.

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