HDC Board Members, Managing Director Suspended Amid Fraud Investigation

The Privatisation and Corporatisation Board (PCB) suspended all HDC board members except chairman Ahmed Naasif, and Managing Director Ibrahim Fazul Rasheed, following a police investigation into fraudulent land allocations under the Binveriya scheme. The suspension is immediate. Presidential spokesperson Helena Waleed assured eligible applicants would receive land. Allegations involve land worth MVR 450 million allocated to approximately 50 ineligible individuals, including Fazul's brother, Mohamed Fazeel Rasheed. Fazul denied the allegations, insisting all processes were lawful. The scandal has led to public protests. Leaked documents by the pseudonymous X account @HKurusee brought the allegations to light. Police and the Anti-Corruption Commission are investigating. A fire destroyed critical documents in three ministries, raising suspicions.

The Privatisation and Corporatisation Board (PCB) suspended all HDC board members except chairman Ahmed Naasif, and Managing Director Ibrahim Fazul Rasheed, following a police investigation into fraudulent land allocations under the Binveriya scheme. The suspension is immediate. Presidential spokesperson Helena Waleed assured eligible applicants would receive land. Allegations involve land worth MVR 450 million allocated to approximately 50 ineligible individuals, including Fazul's brother, Mohamed Fazeel Rasheed. Fazul denied the allegations, insisting all processes were lawful. The scandal has led to public protests. Leaked documents by the pseudonymous X account @HKurusee brought the allegations to light. Police and the Anti-Corruption Commission are investigating. A fire destroyed critical documents in three ministries, raising suspicions.

The Privatisation and Corporatisation Board (PCB) suspended all HDC board members except chairman Ahmed Naasif, and Managing Director Ibrahim Fazul Rasheed, following a police investigation into fraudulent land allocations under the Binveriya scheme. The suspension is immediate. Presidential spokesperson Helena Waleed assured eligible applicants would receive land. Allegations involve land worth MVR 450 million allocated to approximately 50 ineligible individuals, including Fazul's brother, Mohamed Fazeel Rasheed. Fazul denied the allegations, insisting all processes were lawful. The scandal has led to public protests. Leaked documents by the pseudonymous X account @HKurusee brought the allegations to light. Police and the Anti-Corruption Commission are investigating. A fire destroyed critical documents in three ministries, raising suspicions.

This story involves 1 source and may affect public understanding of fraud / suspension.