Frozen Villa accounts released

The accounts of Villa Group of the famous merchant and Leader of the Jumhooree Party, Qasim Ibrahim that were freezed have been released.

The accounts of Villa Shipping, Villa Holidays and Villa Hotels and Resorts were frozen by the state.

A high ranking official of the Villa Group told Sun Media today that the accounts frozen on 13 May were released last Thursday.

Maldives Inland Revenue Authority (MIRA) froze those accounts after Villa Group failed to pay USD 90.4 million (MVR 1.4 billion) owed to the state. It is yet unclear if that payment has been made or not.

Director General on Audit and Investigation at MIRA, Fathuhulla Jameel said that he cannot share information on specific companies. But the accounts would be released at point where they agree to make the payment.

While the accounts of Villa Group were freezed, the accounts had no money. Qasim Ibrahim’s Villa Group owes the state in rent and fines after the Tourism Ministry nulled their agreement with Villa for the development of Th. Elaa, G.Dh. Jazeeraa, R. Maafenfushi, Kaddhoo City Hotel and Hanimaadhoo City Hotel.