Court concludes hearings in Sun companies’ case in MMPRC graft
Judge Ali Nadeem, who is presiding over the case, said a verdict will be delivered within the next 30 days.
The Criminal Court has concluded hearings in the money laundering case involving Sun Construction and Sun Investment in connection with the lease of R. Fuggiri through the Maldives Marketing and Public Relations Corporation (MMPRC) corruption scheme.
The case has been ongoing for over four years. It also involves former President Abdulla Yameen, who is being tried separately on charges of bribery and money laundering related to the same lease transaction.
In Sunday's hearing, both prosecution and defence delivered their summary statements. Judge Ali Nadeem, who is presiding over the case, said a verdict will be delivered within the next 30 days. A specific date has not been announced.
Charges of facilitating bribery and laundering money against Ahmed Krik Riza were withdrawn after prolonged delays in court proceedings.
During the hearing, the prosecution stated that the presence of Ahmed Krik Riza and former MP Ali Mauroof — the former purchasing director of Sun Investment — at meetings related to the lease demonstrated that the two companies were directly involved. This was corroborated by testimony from other participants of the meetings.
According to the prosecution, Mauroof’s attendance was not justified by any formal connection to the lease transaction. Instead, it was alleged that Mauroof attended to facilitate the delivery of funds to then-President Yameen on behalf of Sun. The prosecution noted that Mauroof signed documents and took actions on behalf of the companies that aligned with this purpose.
Bank records were presented to show the timing of deposits into and between company accounts, and ultimately into Yameen’s account, as part of the transaction. The prosecution argued that no plausible explanation was provided by either company for these transfers, and that the movement of funds constituted money laundering.
In its summary, the prosecution said that former Sun Construction Finance Director Sirithakumar had testified that President Yameen had requested funds to be brought by Riza, and that the money was deposited through Sun Construction.
Both Sun Construction and Sun Investment deny the charges. Their legal defence is based on the argument that when the funds were received, neither company had grounds to file a Suspicious Transaction Report (STR). Sun Construction stated that the funds were transferred to Sun Investment because it did not have the authority to exchange currency.
However, the prosecution argued that Sun Investment was also not licensed to exchange currency, calling the defence’s justification for the transfer “false.”
The trial against former President Yameen has also reached the final stages in the Criminal Court. Witness testimony has concluded, and a hearing for the discussion of evidence is scheduled for next month.
The prosecution alleges that on 9 September 2015, the lease of Fuggiri to Classic City Island Holdings Ltd. was arranged through MMPRC. Related transactions include:
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On 29 May 2016, USD 1.1 million was paid to Sun Construction via a cheque from an account in Riza’s name at the Bank of Ceylon.
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On 31 May 2016, the cheque was deposited into Sun Construction’s account at the State Bank of India as part of a foreign exchange transaction.
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On 7 June 2016, the funds were transferred internally to Sun Investment.
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Later the same day, an additional USD 1,000 was added and USD 1.18 million was deposited into Yameen’s Islamic bank account under the label of an inter-company transfer.
In a separate matter, the High Court has ordered a retrial on another set of charges relating to a separate lease transaction connected to the MMPRC scandal.
