A high-level investigation has been initiated by the police following a complaint filed by the Financial Intelligence Unit (FIU) of the central bank, Maldives Monetary Authority (MMA).
The probe revolves around substantial amounts of money being deposited into the personal account of a senior head at the Road Development Corporation (RDC). Media outlets have reported allegations of fund embezzlement involving RDC’s Managing Director, Moosa Ali Manik, and Chief Financial Officer, Yasir Hasan.
According to media reports, the investigation focuses on the transfer of MVR 13.8 million from RDC’s account to Yasir Hasan’s personal account. The subsequent use of these funds remains unclear at this time. While Moosa Ali Manik has publicly denied the allegations through a tweet, the police have acknowledged their involvement in a case related to the RDC. However, they have refrained from disclosing further details regarding the ongoing investigation.
Reliable sources have confirmed that the Maldives Monetary Authority’s FIU brought the matter to the attention of the police. The FIU, established under anti-money laundering legislation, operates as an independent unit responsible for receiving, analyzing, and disseminating information pertaining to money laundering activities, terrorism financing, and proceeds of crime.
The investigation into the alleged misappropriation of funds by senior officials at the RDC marks a significant development in the Maldives’ ongoing fight against financial crimes. As the police delve deeper into the matter following the FIU’s complaint, further revelations are expected to shed light on the extent of the alleged embezzlement and its potential ramifications.