ACC files case over third-party USD 1M transfer of MMPRC funds to Yameen

Anti-Corruption Commission (ACC) has filed a case with Maldives Police Service over two USD 500,000 bank transfers made to former Maldivian President Abdulla Yameen Abdul Gayoom from a private company.

ACC, in a statement on the USD 1.4 billion MMPRC embezzlement scandal, last Tuesday night, said the two bank transfers to Yameen’s personal bank account at the Maldives Islamic Bank (MIB) has been traced to the funds missing in the MMRC scandal.

The first USD 500,000 transfer was made on October 13, 2015, and the second USD 500,000 transfer three days later.

ACC, in its statement, did not disclose the name of the private company, but ‘Sun’ has been informed it is SOF Private Limited, which has been implicated in the scandal.

MONEY TRANSFERRED BY SOF’S COMPANY SECRETARY

ACC, in its statement said the transfer was made by the company secretary of the private company. But, again, did not disclose any names.

ACC wrote that the investigation into the MMPRC scandal remains open with shareholders of SOF Private Limited on the run.

The commission stressed the testimony of the shareholders of SOF Private Limited was vital to complete the investigation, and said the commission was working with authorities to locate and bring them back to Maldives for questioning.

Interpol has issued red notice to find the majority shareholder of SOF Private Limited, Mohamed Allam Latheef for money laundering and terrorism.

Other shareholders are:

• Mohamed Riyaz, M. Boaddoo, Male’ City
• Shaheedha Abdulla, Benhaage, G. Dh. Thinadhoo

ACC said in its statement that the USD 1 million in question was retrieved and transferred to a bank account created in ACC’s name on June 10, 2018.

The commission said it has noticed a number of issues surrounding the USD 1 million transfer and has therefore filed a case with the MPS.

Yameen, now the Leader of Progressive Party of Maldives (PPM), has denied the USD 1 million transfer was nefarious.

He said that every citizen had a right to bank transactions, and said he has not touched the money.