Urbanco employee suspended in K-Park scam probe

An employee of Urbanco embroiled in the case involving sale of apartments from the K-Park Residences, a condominium under development in Hulhumale’ by Hanbo, using forged documents, has been suspended.

In a press statement Thursday, Urbanco said its employee, Abdulla Nafiu Mohamed, has been suspended for 14 days under the company’s progressive disciplinary action policy, in connection to the investigation into the case.

Urbanco said that additional action, if found necessary, will be taken upon conclusion of the joint investigation by the police and the company’s internal auditors.

Hanbo, which launched the K-Park project in 2016, is co-owned by Jin Shihu, a Chinese national, and Hassan Mamdhooh (Manday). Shihu owns 95 percent of the shares while Manday owns the remaining five percent.

In a statement regarding the case, Hanbo said said they found that unbeknownst to the company, Manday and a second person, Jaishan Saeed, had sold multiple apartments at the condominium using fraud and deceit.

Manday denies the allegations against him.

Manday and two more people, identified by the police as a local and a foreigner, have been banned from traveling overseas as the police investigate the case.