The Civil Court on Wednesday ordered Hanbo to hand over four apartments purchased from the K-Park Residences within one month.
The K-Park project was launched by Hanbo in 2016. But the condominium has remained unfinished, with the project embroiled in scandal, with its minority shareholder on trial for defrauding dozens of people who paid booking fees for apartments at the K-Park Residences.
The ruling follows a lawsuit filed by one of the victims of the K-Park scandal; Ali Adam of Kakaage Aage.
A former political appointee and close associate of former Maldivian President Abdulla Yameen Abdul Gayoom, Ali Adam purchased four apartments from K-Park. He sued Hanbo seeking to either get the apartments he purchased or get a refund.
On Wednesday, Judge Mohamed Easa Fulhu ruled that it is clear from the agreement Hanbo is required to hand over the apartments to Ali Adam.
Ali Adam. (File Photo/Sun)
He ordered Hanbo to complete the hand over within 30 days, or refund Ali Adam with the MVR 2.9 million he paid of the apartments in 30 days if they are unable to hand over the apartments.
During Yameen’s administration, Ali Adam served as a counsel at the Maldivian consulate in India’s Trivandrum, and later as a senior political director at the Foreign Ministry and as a deputy minister at the Islamic Ministry.
It was Hanbo and Housing Development Corporation (HDC) that reported the allegations of fraud to the police in 2023, naming Hanbo’s then-minority shareholder Hassan Mamdhooh (Manday) as the prime suspect in the case. 
Manday and his associate Jaishan Saeed are on trial for over 200 charges, collectively, for defrauding over 50 people.
The victims have repeatedly raised concerns over the delay in justice in the case.