The Housing Development Corporation (HDC) has launched an investigation into the alleged embezzlement of MVR 200 million during the administration of former President Ibrahim Mohamed Solih.
In a statement released on Thursday evening, the HDC reported the identification of MVR 200 million in fraud involving the corporation's property, land, and services between 2019 and 2023.
The alleged fraudulent activities encompass the theft of corporate property, the unauthorized use of corporation assets for personal gain, and the lease of land to the detriment of the corporation.
The HDC further stated that it has become aware of the sale of land outside the established procedures and rules set forth by the corporation.
The HDC affirmed its commitment to cooperating with the investigations conducted by relevant authorities.
When questioned regarding HDC's statement, Suhail Ahmed, the first managing director of HDC during the previous term, denied any such fraud occurring during his tenure. Ahmed Athif, who served as the second Managing Director of HDC during the same period, also stated he was unaware of any such irregularities.
The HDC's motion to investigate these corruption cases comes as Ahmed Saeed Mohamed, the managing director of Fenaka Corporation during the Maldivian Democratic Party (MDP)'s term, has been sentenced to four years in jail following his conviction for corruption.
HDC files case against Solih government for MVR 200M fraud
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