Disgraced former Managing Director of the Housing Development Corporation (HDC) Fazul Rasheed has been appointed as the ruling People's National Congress (PNC)'s campaign manager for Vaavu atoll ahead of next year's local council elections.

Senior officials from PNC confirmed that Fazul was appointed as the campaign manager for Vaavu atoll. He previously represented the Vaavu Felidhoo constituency in the People's Majlis.

Fazul faces numerous corruption allegations, including the sale of land designated for the Binveriya housing scheme to ineligible parties.

Police began an investigation following the allegations and found more than MVR 1 million in cash in his home in Male' in December 2024.

But police later returned the money.

Fazul is also accused of corruption in contracting a Chinese company to install additional elevators in the Hiya towers at an unusually high price.

Shenyang Yuanda Intellectual Industry Group of China was contracted to install additional elevators in the Hiya towers for USD 18 million (MVR 278 million).

That is at a rate of USD 562,500 (MVR 8.3 million) per elevator.

The amount is equivalent to the cost of building two towers similar to the ones being built by Fahi Dhiriulhun Corporation (FDC) in Hulhumale' Phase 2.

The entire FDC project, including the structure and finishing of the 32 towers, cost USD 269 million (MVR 4.1 billion). The cost of one tower is about MVR 128 million.

Fazul resigned as the Managing Director of HDC on December 21, 2024. He was absent from politics for several months before attending a PNC meeting on May 16.

Besides Fazul, many others accused of corruption were seen at the PNC meeting. They include Muaz Mohamed Rasheed, Ismail Suhail, Mohamed Wajeeh Ibrahim and Abdulla Mohamed.

All of them officially joined the ruling party during the meeting and pledged to obey President Dr. Mohamed Muizzu.