Leaked confidential documents have revealed shocking allegations of fraud, corruption, and money laundering implicating former Housing Minister, Mohamed Muizzu, during his tenure from 2012 to 2018. The documents, sourced from the Maldives Monetary Authority’s Financial Intelligence Unit and the Maldives Police Service, paint a grim picture of Muizzu’s involvement in corrupt transactions exceeding 30 million MVR, with a staggering 88% of these transactions conducted in physical cash.
According to the detailed documents, Muizzu allegedly orchestrated the funneling of illicit funds through his sister Saudha’s ex-husband, Idrees Fauzee. Saudha, notably, is presently a candidate for the Nilandhoo constituency in the upcoming parliamentary elections, adding a layer of political complexity to the scandal.
The leaked documents also highlight a series of red flag indicators pointing towards the extensive nature of the corruption:
- Involvement with Politically Exposed Persons (PEPs): Muizzu allegedly had ties with numerous PEPs and companies where PEPs held controlling interests.
- Embezzlement and Misappropriation: There are allegations of embezzlement, structured transaction patterns, and misappropriation of information to banks.
- Use of Corporate Vehicles: Muizzu purportedly used corporate entities to disguise the origin of funds.
- Unexplained Cash Transactions: The documents point to frequent and unexplained cash withdrawals and deposits, often involving considerably large amounts of physical cash.
- Dubious Ultimate Beneficial Owners: Concerns were raised regarding the ownership structure of Dhimyaath Pvt Ltd, one of the entities involved in the scandal.
- Corruption and Unexplained Wealth: Muizzu’s dealings with various corporations and businesses during his tenure, including prominent organizations and Chinese firms, are under scrutiny.
The funds in question were allegedly primarily utilized for the construction of the Dhimyaath building. However, investigations have shed light on Muizzu’s alleged corrupt dealings with several corporations and businesses throughout his seven-year tenure as Housing Minister. Notable entities implicated include Sun Siyam Resorts Ltd, Rainbow Construction Pvt Ltd, Rainbow Enterprises Pvt Ltd, IOF Corporation Pvt Ltd, as well as several Chinese firms such as Hunan No 6 Engineering Co Ltd, Hunan Ruin Trading Company Pvt Ltd, and Win Run (HK) International Trading Ltd, which were involved in significant infrastructure projects at the time.
