Hanbo ordered to deliver apartment, pay monthly compensation
The Criminal Court sentenced Mamdooh to 397 years in prison on 94 counts and sentenced Jaishan Saeed to 159 years in prison.
The Civil Court has ordered Hanbo Maldives to complete and hand over an apartment at the K-Park Residence project within this month and to pay compensation of MVR 25,000 per month until the apartment is delivered to the buyer.
The case was filed in November last year after an apartment purchased under an agreement signed on 11 March 2019 was not completed or handed over within the agreed timeframe.
In his petition, the buyer requested the court to order Hanbo Maldives to complete and hand over the apartment. Alternatively, he sought a refund of MVR 4.1 million paid for the property if delivery was not possible. The buyer also requested monthly compensation of MVR 25,000 from July 2019 until handover, citing losses caused by the delay.
The claim included compensation totalling MVR 1.9 million for a period of six years and six months, in addition to the apartment price of MVR 4.1 million, amounting to a total claim of MVR 6.1 million to be paid within three months.
In its ruling issued on Sunday, the Civil Court ordered Hanbo Maldives to complete and hand over the apartment by the end of this month. The court also ordered the company to pay MVR 1.9 million in damages, to be deposited with the Civil Court by April. In addition, Hanbo Maldives was ordered to continue paying MVR 25,000 per month to the buyer until the apartment is handed over.
Hanbo Maldives is developing the K-Park Residence project in Hulhumalé. Allegations related to the project came to light in April, claiming that apartments were sold without authorisation and payments were obtained from multiple buyers.
In a statement issued at the time, the company said that a minority shareholder, Hassan Mamdooh, and another individual had obtained money from buyers by forging the signature of managing director Jin Shihu, who holds a majority stake in the company.
Authorities have alleged that 23 apartments were sold fraudulently and that more than 50 individuals were affected. Several buyers have filed cases at the Civil Court, which has issued orders for apartments to be handed over in some instances.
The prosecution has filed 104 charges against Mamdooh, while his co-accused Jaishan Saeed faces 74 charges. In December last year, the Criminal Court sentenced Mamdooh to 397 years in prison on 94 counts and sentenced Jaishan Saeed to 159 years in prison.
