The Edition


MMPRC seeks to recover USD14 mln from 3 private companies

18 April 2019, MVT 20:41
Maldives Marketing and Public Relations Corporations' Managing Director Thoyyib Mohamed. PHOTO: AHMED NISHAATH/ MIHAARU
18 April 2019, MVT 20:41

Managing Director of Maldives Marketing and Public Relations Company (MMPRC) Thoyyib Mohamed on Thursday declared that the company is owed USD 14 million, and is in the process to recover the money.

At a press conference held at MMPRC, Thoyyib revealed that the USD 14 million was owed to the company through dollar exchanges by SOF Pvt Ltd, Millennial Capital Ltd, and Montilian International.

He further revealed that the amount was part of the funds embezzled in the major MMPRC scandal which came to light in 2015.

The three companies all have ties to then-Minister of Tourism Ahmed Adeeb Abdul Ghafoor, who was implicated and convicted over his involvement in the MMPRC corruption. SOF Pvt Ltd is a company owned by his close friend Mohamed Latheef, while his uncle Hamid Ismail owns Millennial Capital Ltd. Relatives of Adeeb own shares of Montillian International as well.

The scandal was the biggest case of corruption in Maldives, with MVR 1.3 billion earned via island and lagoon leases for tourism, embezzled from MMPRC.