The Maldives Monetary Authority (MMA), on Monday, announced its decision to carry out an audit regarding Maldives Marketing and Public Relations Company (MMPRC) corruption case.
Speaking at a press conference, MMA Governer, Ahmed Nasser stated that determining the motivation behind cases would be crucial in the effort to stamp out corruption.
Nasser also guaranteed that any corrupt dealings which occurred through the MMA would be investigated by a seperate body. The bidding process to select an investigative third party is already ongoing.
While MVR 1.22 billion was embezzled in the MMPRC case, it is the largest corruption case recorded in Maldives to date.
Out of the total, USD 65.01 million from lease acquisition costs, USD 6.31 million spent on currency exchange and USD 6.15 million of loans were transferred to private companies. In addition to this, a sum of USD 1.90 million was handed over to private firms for undetermined purposes.
The Bank of Maldives also facilitated an audit inorder to further investigate points highlighted in the report published by the Auditors Office in February 2016.
While the Anti-Corruption Commission (ACC) is also carrying out its own investigation into the MMPRC case, former Vice President Ahmed Adheeb and the Managing Director of MMPRC Abdulla Ziyath have been charged for involvement.
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