Adeeb oversaw theft of US$5m resort lease payment, contends prosecution
The embezzlement of US$5 million paid for leasing the island of Mabinhura in Lhaviyani atoll was carried out on the instructions of detained former Vice President Ahmed Adeeb, state prosecutors told the criminal court today.
14 Mar 2016, 9:00 AM
The embezzlement of US$5 million paid for leasing the island of Maabinhura in Lhaviyani atoll was carried out on the instructions of detained former Vice President Ahmed Adeeb, state prosecutors told the criminal court today.
A hearing took place this afternoon in the corruption trial of Hamid Ismail, an influential businessman related to the former vice president.
Presenting the case against Hamid, the state prosecutor said that Abdulla Ziyath, ex-managing director of the Maldives Marketing and Public Relations Corporation, followed Adeeb’s instructions and deposited the US$5 million cheque into the account of Hamid’s Millenium Capital Holdings.
Some US$2.3 million was then transferred to the account of Montillion Pvt Ltd – a company previously owned by Adeeb before he transferred his shares to his father in March 2012 – the prosecutor said.
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