Lawyers representing buyers of K-Park apartments have told Housing Development Corporation (HDC) that Hambo Limited, the developer ordered by courts to hand over completed flats and pay compensation, has “disappeared from existence,” leaving unresolved claims from hundreds of customers.
Advocacy Chambers, which represents some of the affected buyers, said it has requested a meeting with Housing Development Corporation (HDC) to address enforcement of court judgments against the company, but has yet to receive a response. The firm has since followed up with a formal letter seeking urgent discussions with HDC officials.
Many buyers who paid for K-Park apartments in Hulhumale' say they have neither received their units nor refunds, and have filed complaints seeking prosecution and enforcement of judgments against the developer.
Hambo Limited, which developed the K-Park housing project, has been ordered by the courts to hand over apartments and compensate buyers. However, lawyers say the company has failed to appear in proceedings and that court judgments remain unenforced.
The case is linked to one of the largest housing fraud prosecutions in the country. Hassan Mamdhooh (Mandey), a shareholder of Hambo Limited, was sentenced by the Criminal Court to more than 390 years in prison for offences involving the sale of K-Park flats.
He was convicted on 104 counts, including selling the same units to multiple buyers and misappropriating proceeds for personal use. The charges included 50 counts of fraud, 50 counts of obtaining illicit benefit through misrepresentation, three counts of issuing invalid documents, and one count of money laundering.
His co-accused, Jaishan Saeed of Raa Atoll Alifushi, was sentenced to more than 159 years in prison after being convicted on 86 of 95 charges.
The sentences are among the longest ever handed down by Maldivian courts.
In addition to prison terms, the court ordered Mamdhooh to repay all funds taken from victims and imposed a MVR 30 million fine for money laundering. The court also ordered the seizure of a penthouse apartment he purchased in Hulhumale'.
