Ahmed Saeed, former managing director of Fenaka Corporation, has been charged for corruption in the procurement of an ice plant developed by Kaizaan Investment Pvt Ltd at L. Maamendhoo. 
According to the Prosecutor General’s Office (PG Office), former Fenaka management is suspected of corruption in in the procurement of an ice plant developed by Kaizaan in Maamendhoo.
Saeed was charged with misuse of official capacity in connection with the case.
PGO said the charge was filed on May 20th.
In this regard, PGO detailed that Fenaka and Fisheries Ministry entered into an agreement on April 20, 2023, to develop an ice plant in Maamendhoo. Saeed signed the agreement on behalf of the company. However, instead of developing the facility, Fenaka purchased an existing ice plant in Maamendhoo at an unusually high price of MVR 11,251,946.00 (eleven million two hundred fifty-one thousand nine hundred forty-six) proposed by the owner.
PGO said the decision was taken without consulting with the Tender Evaluation Committee and despite Fenaka's business plan stating that the ice plant was not a financially viable project.