The Anti-Corruption Commission (ACC) today requested the Prosecutor General’s (PG) Office to file criminal charges against Popular Maldives, a company implicated in the massive embezzlement scandal involving the Maldives Marketing and Public Relations Corporation (MMPRC).
Popular Maldives is registered under the names of Reesham Riyaz and Raushan Riyaz, the children of former MP Riyaz Rasheed.
According to the ACC, USD 150,000 was transferred from the account of SOF Private Limited to Popular Maldives on July 13, 2015. SOF was the company used by former Vice President Ahmed Adeeb to facilitate the MMPRC graft.
"The company attempted to portray this transaction as a legitimate currency exchange. Furthermore, Popular Maldives Private Limited worked to disguise the true nature, source, and ownership of these funds, as well as the rights associated with them," the ACC alleged.
During that period, Popular Maldives paid an acquisition fee to develop Thaa Olhugiri island as a resort. The ACC stated it has confirmed that these funds were obtained through criminal activity.
The commission further noted that despite acquiring Olhugiri, the company failed to develop the island in accordance with the agreement. The ACC said it would request the Tourism Ministry to repossess the island.
While charges are now being sought against Popular Maldives, it was previously revealed that Riyaz Rasheed himself received funds from the MMPRC scandal. When the list of beneficiaries was publicized, it showed that SOF had transferred MVR 17 million to Riyaaz Rasheed’s personal account.
