Former MP for Feydhoo constituency Alhan Fahmy has denied police allegations that he had run a Ponzi scheme by keeping his company Kings Forex Trading as a front.
This comes after Police had summoned the former MP to its headquarters for questioning in relation to the allegations made against him.
In a tweet afterward, Alhan denied the allegations made against him which said that he had tried to scam money from people using devious means.
In an additional tweet, Alhan said that Police had smeared his reputation and that he would be suing the Police for defamation.
Earlier, Alhan had said that political figures are behind the attempts to hinder his business by accusing him of money laundering and are forcing the Police to take action on these false charges.
Police had begun investigating the allegations of a Ponzi scheme against the former MP in March after Bank of Maldives BML froze the company's accounts over the allegations.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors.
