Bank of Maldives (BML) has frozen the corporate accounts of former Member of Parliament for Feydhoo constituency Alhan Fahmy’s company, King’s Forex Trading with serious allegations of running a Ponzi scheme.
The company released a statement on its Telegram group stating that BML froze their accounts without providing a sufficient reason but all due payments up to this date have been cleared. Moreover, the company will be suing BML for compensation.
Maldives Monetary Authority (MMA) released a statement last Thursday cautioning the public against a Ponzi scheme, however, without the mention of any specific business entity.
However, King’s Forex Company confirmed on Twitter that the statement was aimed at them and it condemns the unprofessional statement released by Maldives Monetary Authority aimed indirectly at the company which was [phrased in a way that] destroyed the goodwill, faith and good name of this company.