Breaking News

Maldives' former president Abdulla Yameen charged with money laundering

COLOMBO: Maldives' former president Abdulla Yameen, who's accused of the usage of cash stolen from state coffers, was charged with cash laundering on Wednesday, in step with a local media file.

The case stems from an allegedly shady deal to hire islands for vacationer resort building and the discovery of $1 million in his checking account.

The case has been filed at the prison courtroom, the prosecutor common's place of business tweeted on Wednesday.

Yameen, who misplaced the presidential election to Ibrahim Mohamed Solih in September 2018 after a five-year rule, is accused of the usage of cash stolen from state coffers, police said ultimate week, after wrapping up investigations, The Maldives Independent reported.

Under the 2014 anti-money laundering regulation, the offence carries a jail sentence between 5 to 15 years or a tremendous of up to $64,850.

Separate charges have been sought over alleged false testimony to the anti-corruption commission right through its investigation into the theft of $90 million from the Maldives marketing and public family members corporation (MMPRC), the paper said.

Yameen was puzzled in December over $1 million deposited to his personal account through SOF, a local company that was used to funnel resort acquisition fees paid to the MMPRC.

"The SOF company which benefited from the funds stolen from MMPRC deposited $1 million to Yameen's account at the Maldives Islamic Bank. Yameen was ordered to return the state funds, but the investigation found that he had profited by not handing over the money and by carrying out transactions," police said.

Yameen denies any wrongdoing. Last week, his felony group brushed aside the costs as an attempt to affect the April 6 parliamentary elections.

"The ACC has so far been unable to prove that the $1 million transferred to Yameen's account in MIB by the SOF company was state funds earned through corruption," legal professionals contended in a commentary.

Yameen's former felony affairs minister Aishath Azima Shukoor is also going through charges of lying to the authorities and helping with cash laundering. It is unclear whether the PG place of business has raised charges towards her.

Weeks after Yameen left place of business, his financial institution accounts have been frozen with more than $6.five million and local currency as police launched a probe into campaign contributions and the $1 million from SOF.

Yameen jailed or exiled most of his competitors right through his turbulent five-year time period. Suspecting a plot to impeach him, Yameen in February 2018 declared a state of emergency and arrested best judges in addition to political combatants.

His rule dented its image as a honeymoon paradise and attracted alarm in another country. He decisively misplaced the country's presidential election to opposition leader Solih in October 2018.

No comments