Authorities have seized the passports of 20 individuals, including Housing Development Corporation (HDC) Managing Director Ibrahim Fazul Rasheed, his brother Mohamed Fazeel Rasheed, and several suspended officials, as investigations into alleged irregularities in the allocation of land under the “Binveriya” housing scheme escalate.
The Privatization and Corporatization Board (PCB) had earlier suspended all members of HDC’s board except Chairman Ahmed Naasif over allegations that the company facilitated the allocation of land worth MVR 450 million to approximately 50 ineligible individuals.
In response to the scandal, the Housing Ministry has suspended 10 political appointees, including deputy ministers and political directors, though no formal announcements have been made. HDC has also suspended five senior employees, including IT head Abdulla Shuhood, deputy IT head Mohamed Salim, chief business officer Ahmed Yameen, chief financial officer Abdulla Faaidh, and deputy director of the estate Ahmed Aiman.
Mohamed Fazeel Rasheed, the deputy managing director of the Maldives Water and Sewerage Company (MWSC) and the brother of HDC Managing Director Fazul Rasheed, has also been suspended. He is accused of attempting to secure land in Hulhumalé Phase II using fraudulent documents.
The case surfaced on social media earlier this week, prompting investigations by the Maldives Police Service and the Anti-Corruption Commission (ACC). Despite the ongoing probes, no criminal charges have yet been filed against any of the implicated individuals.
Public anger has intensified, with protesters gathering outside HDC headquarters to demand the arrests of those involved. Speculation about a possible cover-up has also been fuelled by a fire last week that destroyed critical documents in three government ministries, including the Ministry of Housing.
The opposition Maldivian Democratic Party (MDP) has called for the dismissal of Fazul Rasheed and swift action against all implicated individuals. Neither the HDC nor the Maldives Government has issued further comments on the developments.