A leaked report by the Financial Intelligence Unit (FIU) has raised serious concerns about suspicious transactions made by Fenaka Corporation just days before the April 2024 parliamentary elections.
According to the report, Fenaka released MVR 12 million to two private companies, with large portions of the money later transferred into the accounts of various individuals.
One of the companies, Kango Pvt Ltd, received payments from Fenaka between 2023 and September 2024 amounting to MVR 37 million in total. Notably, on 18 April 2024, at 2:00 pm, just three days before the elections, a bank transfer of millions was processed. By the following day, around MVR 700,000 had already been distributed among multiple parties.
The report also revealed that on 16 April 2024, Fenaka transferred MVR 9.8 million to D & V Investment Pvt Ltd, a company owned by MP Ibrahim Didi and his wife Ihsaana Shareeg. Within two days, D&V disbursed MVR 750,000 across five separate transactions. The funds were later routed through Kango and distributed to different individuals.
The FIU suggests that these funds were most likely used to buy votes during the elections.
This raises a critical question of selective justice. If former Fenaka MD Ahmed Saeed was sentenced on corruption charges, then why has former MD Muaz, who oversaw these questionable transactions, walked free despite using state funds to influence elections?
The leaked report highlights not only a serious misuse of public money but also the unequal application of justice, leaving many Maldivians questioning whether corruption is punished only when it suits those in power.
