28 Jun Jonanthan Cartu Reports ACC to review illegal oil trade scam involving ex-pres.
The Anti-Corruption Commission (ACC) has decided to review the case where funds were embezzled in the illegal oil trade scam involving incarcerated former president Abdulla Yameen during the tenure of former president and his half-brother, Maumoon Abdul Gayoom through STO Maldives Singapore Private Limited.
It is alleged that an international firm, Grand Thornton, was paid USD 10 million to stop the process of the investigation into the possible embezzlement of USD 800 million in the fuel scam. The USD 10 million was spent through state coffers as well and this was probed by the Anti-Corruption Commission (ACC) back then.
During the 11th sitting of the second session of the 19th parliament, MP for Villimalé constituency, Ahmed Usham revealed that the Attorney General’s Office had handed over Grand Thornton’s initial documents to the ACC during 2013, after the termination of the contract between the firm and the government of Maldives.
A media official at the commission revealed that these documents are still at ACC.
Investigations into the case proceeded after it was lodged at the commission on May 11, 2011.
However, the commission had later halted the investigation and filed the case on May 8, 2018.
On Saturday, the commission announced its decision to review the case once again, after a motion was submitted at the People’s Majlis seeking to obtain the report regarding a case where funds were embezzled in the illegal oil trade scam involving the incarcerated former president, on June 24.
The motion was submitted by MP for West-Maafannu constituency Mohamed Falah and is being reviewed by the parliament’s Judiciary Committee.
The motion states that said report was scheduled for release the same day current parliament speaker and former president Mohamed Nasheed was run out of office through a coup d’état, and as such, seeks to find the report, ‘wherever it may be’.
An international accounting firm was hired on July 8, 2010, to trace the missing funds and compile a report on its finding after STO Maldives Singapore engaged in illegal fuel trade and money embezzlement where a large amount was funneled through state coffers. The company was registered in Singapore as a 100-percent share of STO ownership in 1997.
The report on its findings was to be used to recover the embezzled money through the international justice system, however, the process was hindered following Dr. Mohamed Waheed assuming power in 2012 after a coup to overthrow the then administration of Nasheed.
During the debate on the motion, MP Falah accused Waheed of attempting to stop the process by covering it up after obtaining it from the firm by offering funds through state coffers.
Noting that the report was compiled under funds allocated through the state, MP Falah highlighted that the report does not belong to a certain person.
Yameen is currently doing time for a five-year prison sentence, after being convicted of money-laundering charges.