Maldives Police Service has requested the victims who were targeted through a series of scams involving Hanbo Company Limited, the local agent of the K-Park Residence project to provide information to the authority.
Police said in a statement on Sunday evening, May 7, that they are currently investigating the case of K-Park apartments being sold fraudulently using forged documents in the name of the company.
Police have requested any party who was a victim of the alleged scam to contact the authority's Economic Crime Department and file a formal complaint.
Urbanco entered into an agreement with South Korea's Hanbo Tech on October 9, 2016 for the development of the K-Park Residence project, with Hanbo Company Limited acting as the local agent responsible for project management and marketing.
However, last week Hanbo Tech announced that it had terminated the contract with the local agent due to various differences.
A statement published by the Hanbo Company on Tuesday alleged that a large number of apartments in K-Park were sold without the company's knowledge. The company accused the company's minority shareholder Hassan Mamdhooh of being involved in the crime.
According to Hanbo's statement, the accused allegedly sold these apartments by forging the signature of Hanbo Company's Managing Director, Jin Shihu. The statement also said that Jaishan Saeed had signed agreements on behalf of the company, citing a motion passed by the company which allegedly gave him the right to do so. Jaishan Saeed is a shareholder in Kodhi Investments, a company that also holds a minority stake in the project's execution.
According to the statement, Mamdooh had signed some of the agreements by misquoting his status and falsely claiming to be the Managing Director of the company.
Mamdhooh has been issued a no-flying order following the case.
Sign In