ACC investigates 161 cases linked to Fenaka, orders recovery of MVR 21 million

Anti-Corruption Commission (ACC) is investigating 161 cases involving Fenaka Corporation and has ordered the state-owned utility to recover MVR 21.4 million.

Auditor General’s Office (AG) released a  report highlighting corruption at Fenaka, including the awarding of projects worth billions without competitive bidding and contracts issued below market rates last week Thursday.

In a statement, the ACC said it had begun acting on cases flagged in the audit report that fall under its mandate. It noted that many of the issues raised in the audit report were now under investigation.

Of the 161 cases, 13 have reached the duty prosecution stage with the Prosecutor General’s Office. Since 2022, nine Fenaka-related cases have been sent for prosecution, some of which have been tried, with one conviction delivered.

Fenaka has now been ordered to recover MVR 21,458,280 and address 96 shortcomings, including:

Last week, the Criminal Court sentenced former Fenaka managing director Ahmed Saeed (known as Fenaka Saeed) to four years in prison in a corruption case. He faces charges in another case as well.