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Fenaka embezzlement of MVR 17 million to court

Aishath Mihna Nasih
08 November 2016, MVT 11:22
Mohamed Nimal, former managing director of Fenaka Corporation, was appointed deputy tourism minister. FILE PHOTO: MOHAMED SHARUHAAN/MIHAARU
Aishath Mihna Nasih
08 November 2016, MVT 11:22

Former managing director of Fenaka Corporation, Mohamed Nimal, has decided to file a lawsuit against a speedboat company and Mauritius Commercial Bank (MCB) over the embezzlement of MVR 17 million from the corporation.

It was a case that took place during Nimal’s term of service. Speaking to Mihaaru, Nimal stated that Fenaka had sold MVR 17 million to a speedboat company in exchange for USD 1.15 million, which Fenaka still has not received.

He holds MCB and the speedboat company responsible for the embezzlement, explaining, "The cheque from the speedboat company was signed by Fenaka after MCB stamped it, and we personally sent our staff to the bank to confirm its validity."

Nimal said the US Dollars were needed for various projects to be carried out in the atolls by Fenaka.

The MVR 17 million was sold to the speedboat company at the standard rate of MVR 15.42 per Dollar. The speedboat company had agreed to hand over the Dollars within a period of 30 days. However, Fenaka only realised the transaction’s invalidity when the period passed and the cheque was bounced.

Nimal was removed from his position as managing director at Fenaka and transferred to the Ministry of Tourism as its deputy after the issue was raised.

“There won’t be corruption involved in any of this, hence I believe it’s my duty to return the rights of the company though I don’t work there anymore,” added Nimal, who added that the case will be filed at the Civil Court within two days' time.

Police and the Anti Corruption Commission are also probing the embezzlement. A top executive of the speedboat company had been taken into custody, though Mihaaru understands that the detainee is now under house arrest.

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