The High Court has annulled its earlier decision rejecting the appeal of K-Park Director over the state's decision to confiscate and freeze his assets.
Hassan Mamdhooh, the minority shareholder of Hanbo Company, the local firm appointed to market and sell residential units of K-Park Residencies built by South Korean developer HanboTech, is alleged to have misappropriated company funds and engaged in illicit enrichment through misrepresentation, graft, and embezzlement.
Hanbo Company's majority shareholder, Jin, earlier filed a lawsuit claiming Mamdhooh had deceptively used agreements by forging his signatures to purportedly sell completed apartments when they have not been finished. Mamdhooh is alleged of selling the same apartment to multiple buyers by providing misleading information to them deliberately.
He is also alleged of transferring the money received to the company through his misconduct in selling said apartments to his personal accounts, and using the illicitly gained funds to purchase extravagant products to maintain a luxury lifestyle.
Maldives Police raided his residence and confiscated his assets, including several articles of designer bags, jewelry and other expensive items through on a warrant from Hulhumalé Court for a one-year period.
Mamdhooh appealed the injunction order to the first appellate court. However, the court's registrar declined accepting the appeal initially, after which the rejection was filed with the court's judges bench on behalf of the director.
The judges bench on Thursday, last week, nullified High Court registrar's earlier decision to reject the appeal. Two out of the three judges in the presiding bench agreed on nullifying the registrar's decision, which included Justices Mohamed Saleem and Mohamed Shaneez. Both judges argued that due to the presence of a legal issue in the case, it should be admitted to the court.
The dissenting voice in the case was Justice Hassan Shafeeu, who upheld the registrar's decision.
The state is seeking to prosecute over 100 charges against Mamdhooh over the allegations.
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