Maldives ex-president convicted of money laundering, sentenced to five years in prison
The five-judge panel also imposed a US$5 million fine.
28 Nov 2019, 9:00 AM
Former president Abdulla Yameen has been found guilty of laundering US$1 million deposited to his bank account by a company that was used to channel resort acquisition fees stolen during his administration.
While in office, Yameen invested the money despite reasonable grounds to suspect that it was ill-gotten and violated an agreement signed with the Anti-Corruption Commission to hold the US$1 million in an escrow account, a five-judge panel ruled.
The 60-year-old opposition leader was fined US$5 million and sentenced to five years in prison, the minimum jail term stipulated in the 2014 anti-money laundering law.
Delivering the verdict, Judge Ali Rasheed Hussain said it was clear from the testimonies of former ACC vice president Muaviz Rasheed, former vice president Ahmed Adeeb and former managing director of the Maldives Marketing and Public Relations Corporation Abdulla Ziyath that Yameen had been aware that the US$1 million was stolen from the MMPRC. It had been paid as the acquisition cost for leasing Vodamulla island in Gaaf Alif atoll.
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