Over 200 charges against 2 in K-Park fraud; 104 on Mamdooh alone
With money from the scams, Mamdooh bought a penthouse worth MVR 8 million from the FW Residence building in Hulhumale.
More than 200 charges were filed by the prosecution in court on Tuesday in connection with the fraudulent sale of high-end K-Park residence flats under construction in Hulhumale. More than 100 of the charges have been filed against Mohammed Mamdooh, a former minority shareholder of the developer.
The Prosecutor General's Office (PG) filed the charges in the Criminal Court on Tuesday.
There are more than 50 people scorned in the fraudulent sale of a total of 23 apartments, and the prosecutor had decided to prosecute for each of them separately.
Mamdhooh faces 104 charges. These include:
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50 Charges: Tax offence
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50 Charges: Committing a fraudulent act
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3 Charges: Knowingly giving an invalid document with intent to deceive someone
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A charge of money laundering
The remaining 74 charges were filed against Jaishan Saeed, who is accused of participating in the fraud. These include:
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47 Charges: Committing a fraudulent act
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27 Charges: Participation in fraud
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20 Charges: Tax offence
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3 Charges: Knowingly giving an invalid document with intent to deceive someone
"These suits also seek damages for the victims in connection with the 201 charges filed," the prosecutor's office said in a statement.
According to the PG office, the charges of providing unverified documents were made after Mamdooh submitted unverified signed documents in Jin Shi Hu’s name, a 95% shareholder of Hanbo Company Pvt Ltd, to the bank without his permission.
The MMA's Financial Intelligence Unit (FIU) has also sought technical advice on the investigation, the prosecutor's office said on Wednesday.
"Additional sections related to this scheme are being investigated by the Maldives Police Service. Once the investigation is completed and submitted to this office, after studying the sections, this office will decide whether to file further charges in this case," the prosecutor's office said.
A brief summary of the case:
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A total of 23 apartments were sold to more than 50 people; Some apartments have been sold to six people
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Money has been taken from them all in this massive fraud
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With the money, he bought a penthouse worth MVR 8 million from the FW Residence building in Hulhumale
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The apartment, where Mamdooh and his family lived, has been seized for a year and the total value of over 200 perfume bottles, including luxury brands found inside the apartment, the jewellery and other similar items, is estimated to be MVR 7 million.
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Mamdooh was arrested on July 5 while trying to leave Maldives. However, he was released from custody after his passport was seized under an order issued by the Hulhumale court on 30th of that month.
