The Prosecutor General’s Office PGO has filed corruption-related charges against former Vice President and Finance Minister Abdullah Jihad at the Criminal Court today.
PGO filed charges against the former VP in connection to the project to transform Kaafu Atoll Fushidhiggarufalhu into a special tourist zone after he was alleged to have used his position as the then Finance Minister to deny an advantage to the state where such an advantage exists.
The case was investigated by the corruption and asset recovery commission before it forwarded the case details to the PGO.
Back in November of 2011, the then cabinet decided to form a joint venture agreement with 50 percent state share to develop Fushidhiggarufalhu as a special tourist zone upon the recommendation of the National Planning Council.
The cabinet decided that the state would not have to invest any capital for the development and that the state must receive the land rent fee from the project.
But Jihad had acted against the cabinet’s decision during his tenure as Finance Minister. Unlike the previously decided 50 percent state joint venture, Jihad had opted to sign a 25 percent joint venture with Capital Maldives Private Limited on 13th January 2013.
With this joint venture, the state lost profits of around USD 604 million, and the change in its shares in the joint venture incurred further losses for the state.
The case was filed at the Anti-Corruption Commission in August of 2013 but the commission decided that there were no elements of corruption pertaining to the case in February of 2016.
