Inter-company transfer as 1 lacked foreign exchange licence: Witness
He said the money was exchanged between the two companies because Sun Construction did not have foreign exchange licence.
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By
Fathmath Ahmed Shareef
Finance director of Sun Construction on Thursday testified before the Criminal Court as a prosecution witness in connection with the charges against two Sun companies for allegedly facilitating money laundering involving the lease of R. Fuggiri as part of the MMPRC corruption scandal.
He said the money was exchanged between the two companies because Sun Construction did not have foreign exchange licence.
According to the indictment filed against the two Sun companies and former President Abdulla Yameen Abdul Gayoom, Sun company helped launder money in the alleged irregularities in the lease of R. Fuggiri to Classic City Island Holdings Limited on September 9, 2015 through MMPRC.
According to the charges:
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29 May 2016: USD 1.1 million of the bribe received by Yameen through Ahmed Krik Riza, whose charges have now been withdrawn, was paid to Sun Construction by a cheque from an account opened in Riza's name at the Bank of Ceylon
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31 May 2016: The cheque was deposited into an account opened in the name of Sun Construction with State Bank of India, in the guise of a dollar exchange transaction
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7 June 2016: The money was transferred as an in-house fund transfer to an account opened with State Bank of India in the name of Sun Investment
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7 June 2016: With additional USD 1,000, USD 1.18 million was deposited into an account opened in Yameen's name at the Maldives Islamic bank as an inter-company fund transfer
Charges are being heard against:
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Yameen - Accepting a bribe and money laundering
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Sun Construction - Money laundering
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Sun Investment - Money laundering
Sun Group's Finance Director Sritha Kumar is currently in his native Sri Lanka and his testimony was taken online on Thursday through the Maldivian High Commission in Colombo.
When the state asked him what information he received initially in connection with the transaction, Sun Group's owner Ahmed Siyam Mohamed told him Yameen wanted to exchange dollars, and asked him to make arrangements when he sent a person with former Kendhikulhudhoo MP Ali Mauroof.
Mauroof is the purchasing director of Sun Investment and a senior company with the authority to sign financial documents, the witness said. He said he did not know who went to exchange dollars with Mauroof. He said he could not remember the exact date of the incident as it was from a long time back.
However, he said he knew that Ahmed Krik Riza had accompanied Mauroof to exchange the dollars when he saw his name on the cheque used to exchange the dollars. The cheque was deposited in a dollar account opened in the name of Sun Construction with the State Bank of India, he said.
After that:
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While trying to pay the money in instalments, Mauroof told him a few days later that Yameen had received the money in Maldivian Rufiyaa (MVR) and asked him to send the money back to Yameen
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Afterwards, Mauroof came with another person and signed a receipt acknowledging the receipt of money; it was not known who received the money
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The receipt was signed by Riza; the money was later given to Yameen, according to Mauroof
Sritha Kumar's testimony had to be suspended twice on Thursday due to internet problems. As a result, the witness's statement was not clear, and the judge said he did not think it was the best way to record a testimony in such a situation.
The judge asked the prosecution's views on taking evidence when the witness arrived in Male. The prosecution, after further discussions, said it was working to get him to testify next Tuesday.
Sritha Kumar is currently in Sri Lanka for medical treatment. When the judge asked him when he would be able to return to Male, he said that he would know when he would be able to return after receiving word from his doctor.
The then tourism minister Ahmed Adeeb and MMPRC Managing Director Abdullah Ziyath have previously testified as prosecution witnesses in the case.
