K-Park scam: Criminal Court orders Manday’s passport release

The Criminal Court has ordered Maldives Police Services to release the passport of Hassan Mamdhooh (Manday) who is involved in the fraudulent sale of apartments from the K-Park Residences, a condominium under development in Hulhumale’ by Hanbo.

Hanbo, which launched the K-Park project in 2016, is co-owned by Jin Shihu, a Chinese national, and Manday, who is the minority share holder with only five percent. Shihu owns the other 95 percent.

Sun has received information that the passport was released following a request put in for Manday to go see his wife who has given birth. The request was for 45 days.

In addition to Manday, 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.

Police has stated that the case involves sale of apartments from the K-Park Residences using forged documents, and embezzlement of the money collected in the scam.

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

They also said that while the company’s official bank account is with the State Bank of India, large sums of money were deposited to a USD and MVR account opened with the Bank of Maldives, by forging the signature of the company’s managing director, Shihu. The allege these funds were later taken out by Manday.

Meanwhile Manday denies all the allegations against him, and described them as a conspiracy carried after he opposed plans by Hanbo Company's managing director, Jin Shihu to appoint the local contractor hired to install windows as the company’s board secretary.

A staff of Urbanco who is accused of involvement in the scam was suspended during May as well.