ACC probes issue of transfer of Funaddoo

The Anti-Corruption Commission (ACC) has commenced investigations into suspicions that work is ongoing to transfer the credit facilities of Funaddoo Tuna Products to the two new subsidiaries of the Bank of Maldives (BML).

The efforts to transfer the credit facilities are against court orders to repay the loans worth MVR 117 million obtained by mortgaging two resorts formerly partially owned by Dhivehi Rayyithunge Party (DRP) Leader Ahmed Thasmeen Ali.

Vice President of ACC Muavviz Rasheed said today that ACC had commenced investigations into a case filed by a private individual, claiming that corruption is involved in the efforts to transfer the credit facilities of Funaddoo Tuna Products to the two subsidiaries of BML.

Guarantors for the loans worth MVR 117 million include Alifushi MP Mohamed Nashiz and Medhu-Henveyru MP Ali Azim.

The guarantors were first ordered to repay the loan by the Civil Court. This ruling was appealed in High Court by Ali Azim’s team, after which the High Court also supported the Civil Court’s ruling and ordered them to repay the loan.

The complaint filed by the private individual to ACC states that several government ministries are cooperating to transfer of the loans to BML’s subsidiary companies. He has accused that ‘mass corruption’ activities are ongoing by political groups in Fisheries Ministry, Economic Ministry and MIRA.