The Bank of Maldives (BML) has contested former President Abdulla Yameen Abdul Gayoom’s Civil Court filing seeking to address the bank’s failure to deposit the former president’s funds, which were held in an escrow account opened under an agreement between him and the Anti-Corruption Commission (ACC), after the agreement period had expired.
BML filed the counterclaim at the High Court on Wednesday, asserting that the bank was not a party to the case and that the suit should be addressed only to the ACC. However, BML’s filing has not yet been officially registered by the court.
In his civil suit, Yameen contends that BML is withholding the funds in violation of the agreement between him and the ACC. The filing by the former president seeks to have the funds in the escrow account deposited to his account and also claims compensation from BML in the estimated amount he would have received by placing the money in an investment account.
The Civil Court on 20 February rejected BML’s position to sever itself from the case as well as the bank’s contention that the court had no jurisdiction over the matter.
Yameen is currently serving an 11-year prison sentence, with heavy concessions, while at home. The sentence was handed down after he was convicted of bribery and money-laundering, relating to the leasing of Aarah Island in Vaavu (V) Atoll, which Yameen is currently appealing at the High Court. The appeal has been at the High Court for a year and is now at the concluding stage.
The state prosecutors have also charged Yameen in connection with the alleged corruption in the lease of Fuggiri Island in Raa (R) Atoll. However, hearings on the case have stalled due to administrative challenges, in terms of a lack of space for hearings, faced by the Criminal Court.
