FSM fires over 40 staff amid oil theft, laundering scandal
FSM’s internal investigation revealed significant breaches of trust and misconduct by employees who were reportedly involved in selling oil unlawfully.
Fuel Supply Maldives (FSM), a leading supplier of fuel in the Maldives, has dismissed more than 40 employees over allegations of oil theft and laundering proceeds from the stolen oil.
The dismissals followed an internal investigation conducted under the direction of FSM’s parent company, State Trading Organisation (STO).
FSM’s internal investigation revealed major breaches of trust and misconduct by employees who were reportedly involved in selling oil unlawfully. The investigation led to the firing of over 40 employees, with some being offered the opportunity to resign voluntarily.
In connection with the scandal, Ismail Suhail, the company's managing director, resigned from his post after reportedly being asked to step down amid the allegations.
The Maldives Police Service has launched a criminal investigation into the matter. Homeland Minister Ali Ihsan announced on X (formerly Twitter) that law enforcement had conducted searches at 10 individuals, two residences, and two oil barges linked to the case. Electronic devices and documents relevant to the investigation were reportedly seized.
However, authorities have not confirmed whether any arrests have been made.
FSM and STO have yet to issue detailed public statements about the measures being taken to prevent future incidents of this nature.
