Passports of one more local, foreigner seized in K-Park fraud
A police spokesman confirmed that the passports of two others have been confiscated.
By
Ahmed Naif
Passports of two more persons have been impounded in connection with the alleged fraud by minority shareholder Hassan Mamdooh in the sale of high-end K-Park Residence flats being built by Hanbo Company in Hulhumale.
Last week, Jin Shi Hu, a Chinese national and the main shareholder and managing director of Hanbo, filed a police complaint making serious allegations against Mamdooh and saying that he had been duped. Jin alleged that:
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Mamdooh sold apartments to various people at throwaway prices and took money of the company
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Forged board resolutions by forging signatures and opening the company's bank account and making cash transactions
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Cheating by selling the same apartment to more than one person
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The company's tax returns were fudged and signatures forged to file statements to MIRA
Following the serious allegations, the police launched an investigation against Mamdooh and announced on Saturday that his passport had been impounded to prevent him from leaving the country.
Asked by Atoll Times on Wednesday if the passports of more people have been seized in the case, a police spokesman confirmed that the passports of two others have been confiscated. One of them is a foreigner, the spokesman said.
The police, however, did not disclose their identities.
It has been confirmed to Atoll Times that the second Maldivian barred from flying is Mamdooh's business associate, Jaishan Saeed.
Jaishan had:
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Signed agreements for sale of flats as a witness of Hanbo company and also signed receipts of money
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He had signed forged tax returns
Then the passport was seized of Soon Soo Kim, a Korean national is claimed to be a broker of the South Korean company called Hanbo Tech Korea, which previously owned a stake in the local company developing the flats.
It is learnt that he is a close friend of Mamdooh and that he facilitated Mamdooh's introduction to Jin to invest in K-Park.
