The former Managing Director of Housing Development Corporation (HDC), Ibrahim Fazul Rasheed, is facing accusations of disposing of official company documents, according to a statement released by the police yesterday.
Fazul is currently under investigation for his alleged involvement in the wrongful allocation of land plots under the Binveriya scheme. As part of the ongoing inquiry, Fazul remains under a travel ban, with his passport seized to prevent him from leaving the country.
A police spokesperson confirmed that Fazul has been questioned regarding the allegations and official statements have been collected. The travel restrictions will remain in place as the investigation continues. However, no additional details about the case have been disclosed to the media.
The investigation has also included a search of Fazul’s residence, during which authorities discovered and seized MVR 1.4 million in cash. Subsequently, speedboat operator Relax Ferry Service claimed ownership of the money, stating it was payment to Fazul’s company for commissioning the construction of a speedboat.
Police and the Anti-Corruption Commission are jointly investigating allegations of corruption related to the allocation of land plots from Hulhumalé under the Binveriya scheme. The investigations also extend to irregularities in the allocation of flats under the Vinares towers and the Gedhoruveriya scheme.
These cases of alleged misconduct have drawn significant public attention, with authorities under pressure to ensure accountability and transparency in the management of public housing and land resources.
