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The Anti-Corruption Commission has requested money laundering charges against Montillion International, a firm originally owned by former Tourism Minister Ahmed Adeeb, over illicit funds disbursed via MTDC and MMPRC.
News Desk
Former Vice President Adeeb --
MALE : The Anti-Corruption Commission (ACC) has forwarded money laundering charges to the Prosecutor General’s Office against Montillion International Private Limited, a company tied to former Tourism Minister Ahmed Adeeb that unlawfully received USD 1.1 million in state funds.
The case focuses on a scheme where the Maldives Tourism Development Corporation (MTDC) secured a USD 1.1 million loan under the pretext of settling urgent overseas marketing invoices. The Maldives Marketing and Public Relations Corporation (MMPRC) subsequently disbursed these funds to Montillion International.
Adeeb held a 35 percent stake in Montillion International before assuming his role as Tourism Minister. Although the shares were later transferred to Saeed Hussain and Shahid Hussain, the firm, which is currently undergoing liquidation, was heavily involved in receiving and utilizing the illicit funds.
Following a joint investigation with the police, the ACC confirmed that a substantial portion of the embezzled MMPRC money was funneled into Montillion’s Bank of Maldives (BML) account via two SOF Private Limited cheques facilitated by Adeeb. The watchdog noted that company officials utilized the funds despite clear grounds to suspect their illegal origin.
The ACC has also ordered MMPRC to recover USD 150,000 deposited into Montillion’s account. The investigation stems from a November 2014 report by former Auditor General Niyaz Ibrahim, which exposed the fraudulent MTDC loan alongside MVR 77.1 million acquired from Maldives Ports Limited (MPL) to illegally enrich private entities.
