Road Development Corporation RDC says all its financial transactions are made as per the financial laws and regulations of the country and as per the policies implemented at the Corporation.
RDC made the clarification amid serious allegations of embezzlement against the Corporation's Managing Director and Chief Financial Officer who have been accused of siphoning MVR 13 million from company funds.
In response to these allegations, RDC said that there is no way for employees to embezzle company funds and transfer them to their own accounts under the financial mechanisms in place at the corporation.
Though local media have reported that the Police are investigating the MVR 13 million transaction, RDC denied such a transaction had taken place and that no related transactions have taken place as well.
RDC further said that the Corporation is annually audited and that the Auditor General's Office is currently conducting a special audit of the Corporation. It said that none of its financial policies in place have indicated any red flags about any financial transactions.
RDC added that it had not been notified of any investigation or impending investigation into its transactions by either the Police or the central Bank MMA.
It urged all to refrain from spreading false information that would tarnish its image in the eyes of the public.
