Prosecutor General's Office on Thursday, November 30, publicly disclosed the items Maldives Police Service confiscated from the residence of K-Park director Hassan Mamdhooh.
Mamdhooh was earlier arrested for allegations of graft, embezzlement and deceptively appropriating money from potential property buyers on the pretext of selling them apartments.
Though he was released afterwards with a travel ban still in effect, the confiscated items still remain in police custody.
At Thursday's press conference, PG Office disclosed the extravagant lifestyle of Mamdhooh and his wife. The office shared photographs of the items confiscated from his apartment; all of which are alleged to have been purchased using the misappropriated funds.
Prosecutor General Hussain Shameem, at the press conference, highlighted that besides the valuables discovered from his residence, the apartment itself is valued at MVR 8 million.
Valuable items discovered and confiscated from the residence included several branded apparel including shoes, perfumes and jewelry.
PG Office highlighted that over 200 branded perfume bottles were discovered at the apartment, with the majority of them unboxed.
Besides this, a penthouse apartment, bought using the same misappropriated monies, has been taken into police custody for investigation.
Shameem added that the penthouse bought from FW Residence has a market value of MVR 7.8 million. The Prosecutor General further noted that the penthouse had been purchased using funds misappropriated by Mamdhooh on the pretext of selling apartments from K-Park residencies to four separate parties.
The misappropriated funds Mamdhooh acquired from property buyers, were deposited into a bank account opened with doctored documents, investigations revealed.
Shameem also noted that the collective total of all the confiscated items from Mamdhooh's residence stand at MVR 7 million. He provided details about some of the items brought under police custody.
- Branded and luxury class hand bags worth USD 90,000; with individual some of the valued at USD 40,000 to 50,000 a piece.
- Jewelry worth USD 10,000 to 15,000
- Over 200 unboxed perfume bottles
"The combined value of all the assets confiscated from the apartment exceeds the annual expenditure of some of the government agencies," Shameem said.
The Prosecutor General further said that the investigation so far revealed that 41 apartments under K-Park Residencies had been sold deceptively to 107 parties.
The government is considering to press money laundering charges against the director under the Prevention of Money Laundering and Terrorism Financing Act, 2014. The director faces additional charges of forgery, loot, and graft as well.
Prosecutor General's Office further revealed that the charges would be pressed against the director separately, bringing the charges against him to a total of 225; the highest number of criminal charges levied against an individual in the Maldives so far.
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