Hearings in embezzlement of USD 5 million paid to Maldives Marketing and Public Relations Corporation (MMPRC) by Kureddhoo Holdings as acquisition fee for Lh. Maabinhuraa ended on Saturday.
The last hearing in which both state prosecution and defense made their summary statements were held behind closed doors for “national security reasons”.
Former Managing Director of MMPRC, Abdulla Ziyath stands accused of embezzling the money, while former Vice President and Tourism Minister Ahmed Adeeb Abdul Gafoor and businessman Hamid Ismail (M. Shuramanzil) stand accused of being accessories to the crime.
A shareholder of Hamid Ismail’s Millennium Capital Management Private Limited – Amjad Ismail – testified that Adeeb had phones him after depositing USD 5 million to the company’s bank account.
More state witnesses testified that the USD 5 million from Kureddhoo Holdings was deposited to Millennium Capital Management in June 2014, and that Adeeb orchestrated the bank transaction.
Witnesses also testified that the money was then transferred to Montalion International’s bank account under Adeeb’s orders.
Adeeb used to be a shareholder of the company.
Criminal Court is yet to announce the date for a verdict in the case.