Adeeb, Ziyath appeal sentence in MMPRC embezzlement case

Former Vice President and Minister of Tourism, Ahmed Adeeb Abdul Gafoor and former Managing Director of Maldives Marketing and Public Relations Corporation (MMPRC), Abdulla Ziyath have appealed their sentence over the MMRC USD 1 million embezzlement case.

The appeal, which was filed in early October, has been accepted by High Court.

Adeeb, Ziyath and businessman – Hamid Ismail were all found guilty of involvement in the embezzlement of the USD 5 million paid by Kuredhdhoo Holdings to State as acquisition fee for Lh. Maabinhuraa.

Points noted in the Criminal Court verdict:

• Witness testimony proves Ziyath received the USD 5 million cheque from Kuredhdhoo Holdings, and Ziyath handed it over to Adeeb.

• Witness testimony proves Adeeb informed Millennium Capital – of which Hamid is a shareholder – after depositing the money to Millennium Capital’s bank account in April, 2014.

• Witness testimony proves three cheques totalling USD 4 million were prepared as per instructions of Adeeb and handed over to an employee of Montelion International with the signature of General Manager of Millennium Capital.

• Witness testimony proves Adeeb did not pick the remaining USD 1 million.

• Bank account statements of Millennium Capital and Montelion International proves the cheques were deposited to the bank accounts of both companies.

• MMPRC’s bank account statements show the USD 5 million in acquisition fee for Lh. Maabinhuraa was not deposited to the company’s bank account.

Criminal Court noted in its verdict that Adeeb did not take out the remaining USD 1 million, and that no deposits were made to Millennium Capital’s bank account in June, 2014 except for a USD 1 million deposit.

Meanwhile, State Trading Organization and Millennium Capital had signed a contract to buy USD needed for STO in May 17, 2014.

The contract was signed on behalf of Millennium Capital by Hamid.