Terrorist groups designated and US$220m lost to corruption: President Solih meets the press

I met the asset recovery committee yesterday. That committee has also carried out a lot of work to date. About 60 islands were leased at cut prices to various parties, the report has revealed so far. As you know, the audit report previously concluded that US$91 million was lost. However, according to investigations so far, the acquisition costs of the islands reach about US$220 million when the cost is calculated at present rates. This is without including the leased lagoons.

Therefore, when the US$91 million said to have been paid by parties who got the islands is deducted, they still have to pay the government US$128 million. This is the true price. Most of the islands were not leased at the right price. When the asset recovery committee’s report is finalised, we will carry out the work of getting the right price from those islands.