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Maldives’ biggest corruption scandal exceeded U$90m

The scale of the Maldives Marketing and Public Relations Corporation corruption scandal was bigger than estimated in a damning February 2016 audit report that exposed the theft of nearly US$80 million.At least MVR1.4 billion (US$91 million) was funnelled through a private company into the bank accounts of 155 individuals, the Anti-Corruption Commission revealed in a statement Tuesday, the first time the watchdog has disclosed findings of a probe launched in late 2015.The bulk of the stolen funds was paid to the MMPRC as acquisition fees for islands and lagoons leased for resort development. Of US$77.5 million worth of checks collected by the state-owned firm, only US$12.5 million ended up in state coffers, the ACC found..........

 

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