Two individuals have been charged on a total of 201 criminal counts in connection with the fraudulent sale of K-Park Residences in Hulhumalé. Charges were filed against Hassan Mamdhooh and Jaishan Saeed. Mamdhooh was charged with 104 counts while 98 charges were filed against Saeed.
The charges stemmed from the sale of the same units in the under-construction K-Park Residence development to multiple people.
The Prosecutor General’s office said on Wednesday that Mamdhooh and Saeed were charged in connection with defrauding 51 victims. The victims have also sought compensation, the Prosecutor General’s office confirmed.
“These lawsuits also seek damages for the victims in connection with the 201 lawsuits filed,” the Prosecutor General’s office said.
The states prosecutor has filed five categories of charges against the two defendants include money laundering and fraud.
Mamdhooh has been charged with three counts of providing fraudulent documentation with intent to deceive, 50 counts of fraud, one count of money laundering and other charges.
Saeed is charged with three counts of providing fraudulent documentation with intent to deceive, 47 counts of fraud, one count of aiding and abetting in money laundering and other charges.
The investigation by the Police was carried out with the technical advice and guidance of the Economic and Financial Crime Unit of the Prosecutor’s Office and the Financial Intelligence Unit of the Maldives Monetary Authority.
Investigators are also looking into other possible crimes relating to the K-Park case.
“More instances relating to this scheme are being investigated by the Police Service. Once those investigations are completed and submitted to this office, after studying them, we will decide whether to file further charges in this case,” the Prosecutor General’s Office said.