ACC seeks more charges against ex-Fenaka chief over graft
This marks the second time charges have been sought against Saeed.
The Anti-Corruption Commission (ACC) on Sunday requested the Prosecutor General's Office to file charges against former Fenaka Corporation Managing Director Ahmed Saeed Mohamed and former Chief Accountant Mohamed Masood in relation to a case of alleged misconduct during the previous administration.
In a statement issued on Monday, the ACC stated that the request for prosecution is based on the purchase of an ice plant by Fenaka from Kaizan Investment, which the commission alleges was carried out in violation of internal procedures and to the detriment of the company.
According to the ACC, the decision to acquire the ice plant in L. Maamendhoo was made during Fenaka’s 18th board meeting in 2023. The commission said the decision proceeded despite knowledge that the project would result in a significantly lower internal rate of return and net present value.
Under an agreement between the Ministry of Fisheries and Fenaka, the installation of an ice plant in Maamendhoo was scheduled. The ACC stated that Saeed misinformed board members, suggesting that government policy regarding the plant could change, thereby influencing the board’s decision.
The ACC also noted that Masood, serving as Chief Accountant at the time, provided a valuation of the ice plant that was allegedly higher than its market value.
The commission has requested that both individuals be charged with two offences under the Penal Code:
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Abuse of official position
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Acting in a manner that prevented the state from obtaining a benefit it was entitled to receive
This marks the second time charges have been sought against Saeed. In December, the ACC submitted a separate case involving alleged fraud during his tenure at Fenaka. Authorities also seized his passport in connection with ongoing investigations into those allegations.
