Former Managing Director of Fenaka Corporation Limited, Mohamed Nimal, and Director of Finance and Accounts, Minhaj Waheed, have been charged with corruption by the Prosecutor General’s Office (PGO). The charges relate to agreements made by Fenaka in 2014-2015 to procure goods from private companies.
The investigation revealed that Fenaka had prioritized the interests of the suppliers by paying them without penalizing them for liquidated damages. Consequently, Plankton Investment Private Limited and Pneumatic Private Limited were not penalized despite delivering goods after the deadline, resulting in more than MVR 1 million in damages for Fenaka.
While the Anti-Corruption Commission (ACC) requested the PGO to prosecute four Fenaka officials, only two individuals were charged due to a lack of evidence. The ACC has also instructed Fenaka to recover the lost funds.
