Within 24 hours of reports that more than a million Rufiyaa in cash were found in the residence of former Housing Development Corporation (HDC) Managing Director Ibrahim Fazul Rasheed, who resigned after being suspended in connection with a land sale scandal, Relax Ferry Service has revealed that the company gave him MVR 1.4 million in cash.

In a Facebook post, Relax Ferry Service said it had paid the money to Fazul's company in early December to build a speedboat.

"The launch built by Fazul's company was very well-made so we decided to build a second launch through his company after discussions earlier in 2024 and made a cash payment of MVR 1.4 million in early December 2024," the post read.

Relax Ferry Service said Fazul's company had built the previous launch in 2022.

Fazul's residence Maafannu Zeyvaru in Male' was raided by the police on December 22 in connection with the land sale scandal. There are allegations that documents were forged and land was sold to people who were not eligible under the Binveriya housing scheme.

Sources who spoke with Adhadhu on Sunday said a large amount of cash was seized from Fazul's house during the raid. But the amount could not be confirmed as police did not respond to requests for comment.

Police have not yet released any information related to the investigation. They first told reporters that there were no accusations against Fazul in the land sale scandal, but later proceeded to raid his home.

The issue surrounding these lands first came to light in July. Two people were given the same land plot under the Binveriya scheme and the HDC and the Housing Ministry officially communicated on the matter. But the case was not submitted to an investigating agency.