A sitting Member of Parliament affiliated with the ruling People's National Congress (PNC) has been identified as a team leader in the controversial GMCE (also known as GEMCUE) investment scheme, which authorities have deemed fraudulent.

According to sources who spoke to Adhadhu, the MP in question has enrolled over 300 individuals into the scheme, personally investing for some of the earliest recruits. Despite growing concerns, the lawmaker did not deny involvement when questioned by the outlet.

The Capital Market Development Authority (CMDA) and the Maldives Police Service have both issued public warnings about GEMCUE, stating it is an unregistered and deceptive investment scheme.

In a joint press release issued on June 15, the authorities announced that legal action would be taken against those involved in operating, promoting, or recruiting for the scheme.

Sources claim that both PNC leadership and law enforcement are aware of the MP’s identity and role in expanding GEMCUE. Several other parliamentarians, as well as members of the police and military, are also reportedly involved in promoting or participating in the scheme.

Despite the authorities’ warnings, no legal action has been disclosed so far.

In a public post on X, Velidhoo MP Mohamed Abbas appeared to downplay the government’s response, writing, "Regardless of how many press releases are issued, the number of people using GEMCUE is increasing by thousands every day." The MP’s continued public endorsement of the scheme has gone unchallenged by any official institution to date.