State appeals High Court ruling favouring Sultans of the Seas in US$8.5 million fraud case
23 Jun 2012, 5:48 PM
The state has appealed a High Court judgment overruling a Civil Court verdict ordering luxury yachting company Sultans of the Seas to pay Rf110.2 million (US$7.1 million) in fines and unpaid duties.
In September 2009, Maldives Custom Service filed a case at the Civil Court to recover US$8.5 million in fines and unpaid customs duties from Sultans of the Seas – a company associated with the family of Dhivehi Rayyithunge Party (DRP) Leader and Kendhoo MP Ahmed Thasmeen Ali – for allegedly defrauding customs to evade import duties for two luxury yachts.
At a press conference in June 2009, Director of Customs Abdul Rasheed Ibrahim revealed that Sultans evaded import duties for two Italian Azimut yachts, imported in December 2007 and March 2008.
“In the invoices, they said they purchased two used launches,” Rasheed explained, adding that an investigation by the customs internal audit discovered that Sultans had purchased two of Azimut’s latest models, which cost 12.3 million euros or Rf226 million (US$17.7 million).
Become a member
Get full access to our archive and personalise your experience.
Already a member?
Discussion
No comments yet. Be the first to share your thoughts!
No comments yet. Be the first to join the conversation!
Join the Conversation
Sign in to share your thoughts under an alias and take part in the discussion. Independent journalism thrives on open, respectful debate — your voice matters.
