ACC probes graft case involving ex-STELCO chief Shamah
No official reason has been disclosed for Shamah’s removal five months after his appointment.
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The Anti-Corruption Commission (ACC) is investigating a corruption case involving Ahmed Shamah Rasheed, who was dismissed as managing director of State Electric Company Limited (STELCO) on Sunday.
Shamah was appointed managing director of STELCO in September last year, following the dismissal of the then managing director Hussain Fahmy. No official reason has been disclosed for Shamah’s removal five months after his appointment.
The ACC confirmed to Atoll Times on Monday that a case concerning Shamah has been submitted to the commission. The ACC did not provide further details regarding the nature of the allegations or the status of the investigation.
Shamah previously served as managing director of the Maldives Industrial Fisheries Company (MIFCO), becoming the first managing director appointed to the company under the current administration. He was dismissed from that post in May 2024, less than a year after his appointment.
His removal from MIFCO followed allegations of corruption, after which he was suspended pending an investigation by the Privatisation and Corporatisation Board (PCB).
