Mamdooh arrested over K-Park flat sale fraud
Hulhumale magistrate court subsequently granted a police request for an arrest warrant on Tuesday evening.
Police on Wednesday arrested Hassan Mamdooh, the minority shareholder of Hanbo Maldives company which is developing the K-Park Residence luxury flats in Hulhumale, in the investigation into allegations he sold flats to customers of at low prices and extorted large sums of money from the company's customers.
Mamdooh's passport was impounded in June for the investigation, but the Criminal Court released it on Tuesday, sparking public outrage.
Hulhumale magistrate court subsequently granted a police request for an arrest warrant on Tuesday evening. A top police official confirmed that Mamdooh was arrested on Wednesday under warrant.
A case where he allegedly used Hanbo Maldives to sell flats in the K-Park residences to fraudulently sell the flats at a cheap price emerged in May. The company filed a criminal complaint with the police.
-
Hanbo alleged that Mamdooh and another person had extorted money from many people
-
Hanbo said the signature of its Managing Director Jin Shi Hu, who owns 95% of the company, was forged
Besides Mamdooh, the passports of two others were seized in the case. Atoll Times has learned that the two are Jaishan Saeed, a business partner of Mamdooh's who is allegedly involved in selling the flats dishonestly, and a South Korean national who is said to be a broker for a South Korean company called Hanbo Tech.
Related
Related
Local shareholder loses appeal of asset seizure in K-Park scam
High Court accepts appeal for recovery of Mamdooh's property
Over 200 charges against 2 in K-Park fraud; 104 on Mamdooh alone
