Former Parliamentarian Alhan Fahmy on Wednesday filed a case at Civil Court, asking to order the Bank of Maldives (BML) to release the accounts of his company King’s Capitals Holdings Pvt Ltd.
According to the documents filed at court, the company had further requested to state that the company has the right to claim compensation for the loss in business until the accounts are released.
The accounts of King Forex Trading, led by Alhan was frozen on March 10 by BML.
This came not too long after Maldives Monetary Authority (MMA) cautioned the public on Ponzi schemes carried out on social media to obtain money through fraud.
MMA’s statement said that they have received information of such schemes being carried out via Facebook and Telegram, promising under the ruse of an investment, a large amount of money within a short period of time, to fraudulently obtain money.
“People carrying out such schemes, the money is taken from the public, instead of investing it, they spend it on personal uses,” the statement had read.
He dismissed the allegations against his company and branded those as lies.
Moreover, although MMA’s statement did not specify any names, Alhan claimed that it was targeted towards his company.
He said that they have not taken any money under false guises.
Soon after MMA’s statement, Maldives Police Service revealed that an investigation has commenced into Alhan’s company, under alliterations of running a Ponzi scheme.