Hamid Ismail charged with money laundering

Hamid Ismail, a close aide of former Vice President Ahmed Adeeb, has been charged with money laundering.

Police say Hamid was arrested over money laundering allegations related to Maldives Marketing and Public Relations Corporation (MMPRC). No details have been given.

If convicted of money laundering as defined in the Prevention of Money Laundering and Financing Terrorism Act, Hamid will face a fine of between MVR 100,000 and MVR 1,000,000 and imprisonment for a period between five and 15 years, or a fine not exceeding five times the relevant money laundering transaction amount and imprisonment for a period between five and 15 years.

The penalty for attempting, assisting, facilitating, and encouraging money laundering is a fine of between MVR 50,000 and MVR 500,000 and imprisonment for a period between two and ten years, or a fine not exceeding five times the relevant money laundering transaction amount and imprisonment for a period between two and ten years.