Fenaka Executives, Gangs Implicated in Funding PNC Parliamentary Campaign

Sources and documents indicate alleged collusion between executives of state-owned Fenaka Corporation and gang leaders to finance the ruling People's National Congress (PNC) campaign in the 2024 parliamentary elections. The Anti-Corruption Commission (ACC) began probing in December 2024 after the Financial Intelligence Unit (FIU) flagged suspicious use of Fenaka funds. Police also investigated, but sources say both institutions backed down after government pressure. The FIU reported that Fenaka funds were withdrawn for campaign use, with several million Rufiyaa deposited into a bank account linked to then-Managing Director Muaz Mohamed Rasheed. The PNC secured a super majority in parliament. Neither Muaz nor the PNC has commented.

Sources and documents indicate alleged collusion between executives of state-owned Fenaka Corporation and gang leaders to finance the ruling People's National Congress (PNC) campaign in the 2024 parliamentary elections. The Anti-Corruption Commission (ACC) began probing in December 2024 after the Financial Intelligence Unit (FIU) flagged suspicious use of Fenaka funds. Police also investigated, but sources say both institutions backed down after government pressure. The FIU reported that Fenaka funds were withdrawn for campaign use, with several million Rufiyaa deposited into a bank account linked to then-Managing Director Muaz Mohamed Rasheed. The PNC secured a super majority in parliament. Neither Muaz nor the PNC has commented.

Sources and documents indicate alleged collusion between executives of state-owned Fenaka Corporation and gang leaders to finance the ruling People's National Congress (PNC) campaign in the 2024 parliamentary elections. The Anti-Corruption Commission (ACC) began probing in December 2024 after the Financial Intelligence Unit (FIU) flagged suspicious use of Fenaka funds. Police also investigated, but sources say both institutions backed down after government pressure. The FIU reported that Fenaka funds were withdrawn for campaign use, with several million Rufiyaa deposited into a bank account linked to then-Managing Director Muaz Mohamed Rasheed. The PNC secured a super majority in parliament. Neither Muaz nor the PNC has commented.

This story involves 1 source and may affect public understanding of elections / corruption.