The criminal court has issued an arrest warrant for Hanbo company's minority shareholder Hassan Mamdhooh over alleged fraud in the sale of apartments from the K Park Residence in Hulhumale'.
The criminal court previously issued an order to hold Mamdhooh's passport at the request of the police. Mamdhooh asked the court to review the order saying he needed to meet his family overseas and arrange essential family matters.
While the criminal court released Mamdhooh's passport for 45 days yesterday, Adhadhu has learned that the police had also asked the court yesterday for a warrant to arrest Mamdhooh. The court granted the warrant.
Ahmed Shafeeu, Prosecutor General's office media official and public prosecutor, said that the criminal court's order to release the passport will be appealed shortly at the High Court.
"We are really very concerned that the criminal court decided that. We have a 48-hour period to appeal. We will submit the appeal to the High Court today or tomorrow," Shafeeu said.
Shafeeu said further that the PG office was considering other legal avenues for holding his passport before appealing at the High Court.
The K Park project was undertaken by Hanbo Maldives, a company formed in partnership with Korea's Hanbo company. A Chinese national named Jin Shihu owns 95 percent of shares in the company. Mamdhooh owns a five percent stake.
Hanbo Korea alleged in a statement that Mamdhooh forged Jin Shihu's signature on apartment sale agreements and used a resolution said to have been provided to his business partner Jaishan Saeed.
Mamdhooh also issued a statement in response and levelled many allegations against the majority shareholder. The project was carried out with funds taken from people and the majority shareholder committed fraud, he claimed. However, Mamdhooh's statement did not respond to the signature forgery allegation.
After Hanbo Korea's statement, immigration held Mamdhooh's passport as ordered by the court and the police launched an investigation at the request of Urbanco.
