Former Managing Director of Fenaka Corporation, Ahmed Saeed Mohamed, has been formally charged with misuse of official authority in connection with a suspected corruption case involving the purchase of an ice plant located in L. Maamendhoo.
The Prosecutor General’s Office (PG Office) announced today that the charges stem from a transaction carried out on April 30, 2023, when Saeed signed an agreement between Fenaka and the Ministry of Fisheries. Instead of constructing a new ice plant in Maamendhoo as originally planned, Fenaka agreed to purchase an existing ice plant from Kaizan Investment for MVR 11.3 million.
According to the PG Office, the deal was made without the recommendation of the Tender Evaluation Committee and despite Fenaka’s business plan highlighting the project’s financial unviability. Furthermore, during a Fenaka Board of Directors meeting on September 7, 2023, the agreement was signed with Kaizan Investment without disclosing that Fenaka was simultaneously developing an in-house ice plant.
The case was referred to the PG Office in April by the Anti-Corruption Commission (ACC) following their investigation.
If found guilty, Saeed could face a prison sentence of one year, seven months, and six days. In a related development, former Fenaka Procurement Head Mariyam Deena has also been charged separately with misuse of official authority.