Maldives Police Service have launched an investigation into allegations that a minority shareholder of the K-Park apartment complex, Hassan Mamdooh, was involved in the fraudulent sale of flats at throwaway prices.
Mamdooh, who worked as a Maldivian agent for the project, is accused of selling flats to customers using forged documents in the name of Hanbo Company. Hanbo Maldives, which runs the K-Park project, has filed a police complaint seeking a criminal investigation, alleging that Mamdooh and another person took money from several people through a large-scale fraud.
Police spokesman Yunus Sobah confirmed that Mamdooh’s passport has been impounded following a court order during the investigation. The police have urged possible victims of the scam to come forward and provide information to the economic offences department. Meanwhile, the parent company of the K-Park project, Hanbo Tech Korea, has issued a statement pledging to protect the rights and interests of those who have purchased flats.
Urbanco, which had signed an agreement with Hanbo Tech Korea for the K-Park project, has also lodged a police complaint. So far, Mamdooh has not responded to the allegations made against him.
