State-owned company funded PPM office
Nearly MVR2 million was diverted to fund the construction of the former ruling party office.
21 Mar 2019, 9:00 AM
Nearly MVR2 million (US$129,700) was spent from the budget of a state-owned company to build the office of the former ruling party, according to allegations that emerged Wednesday.
A board member and employee of the Maldives Integrated Tourism Development Corporation were suspended in January after the anti-corruption watchdog launched a probe, the company’s new managing director Mohamed Raid confirmed to the media.
The case was flagged in the 2017 audit report of the MITDC released in early January.
An expenditure of MVR1.998 million was first recorded in the 2016 financial statement under property, plant and equipment. But in the following year, it was reclassified as a corporate social responsibility expense as an adjustment.