ACC investigating case against dismissed STELCO MD Shamah

Anti-Corruption Commission (ACC), on Monday, revealed that a case has been lodged against Ahmed Shamah Rasheed, who was dismissed from his post as the managing director of State Electric Company Limited (STELCO) on Sunday.

Shamah was appointed STELCO’s Managing Director on September 7^th of last year.

His unexpected dismissal on Sunday, just five months after his appointment, marked the second time he has been removed from a managerial position at a state-owned enterprise under the current administration.

On Monday, Sun inquired from ACC whether they were investigating any cases against Shamah, which confirmed that a case has been lodged with the Commission against the former STELCO managing director.

However, the Commission did not disclose any additional information about the case, including the nature of the allegations or the current stage of the investigation.

Notably, following Shamah’s dismissal, an audio clip allegedly featuring him was leaked on social media and quickly went viral. In the clip, a voice claims that STELCO’s Procurement Department General Manager, Azhadh Rameez, along with another individual, “knew what he was trying to do” within the company. It is, however, still unclear whether the voice in the recording is actually Shamah’s.

Shortly after the audio clip was leaked, Azhadh was also dismissed from his post. However, he remains employed in the company.

It is likely that both individuals are suspected of corruption.

Shamah denied it was him speaking in the audio clip during an interview with Sun on Sunday night. He also said he is unaware of the reason behind his dismissal.

Shamah was first appointed the Chief Executive Officer (CEO) of state fisheries company, Maldives Industrial Fisheries Company (MIFCO). He was dismissed from his post on May 21, 2024. Notably, Shamah had been suspended during his stint at MIFCO.

PCB placed Shamah on a 14-day paid suspension on March 18, 2024, which was later extended through April 21, 2024, following the expiration of the initial 14 days. The suspension was reportedly linked to an inquiry following a corporate governance–related complaint filed against him. The suspension was lifted on April 23, 2024.

A month after his suspension was lifted, Samah was dismissed from his role at MIFCO. Subsequently, on May 22, 2024, he was appointed State Minister of the Ministry of Fisheries, a post he held up until his appointment to STELCO.