ACC Investigates Six Major Cases Against Former Fenaka Leaders

The Anti-Corruption Commission (ACC) has announced an investigation into six significant cases against former management of Fenaka Corporation during President Ibrahim Mohamed Solih's administration.

ACC President Adam Shamil, speaking at the Parliament's State-Owned Enterprises (SOE) Committee on corruption cases, revealed that since the change of government, 25 cases related to Fenaka have been filed with the ACC. The six major cases currently under investigation involve allegations of corruption and mismanagement by former Fenaka Management.

While Shamil did not disclose details of the six cases or identify the accused former leaders, he emphasized the challenges faced in investigating these cases. "The biggest hurdle is that many employees refuse to give statements," Shamil said. "However, once the management or managing director of the companies change, the employees are willing to make statements," he noted.

Deputy Speaker Ahmed Nazim questioned Shamil about whether any agency had been advised to remove Ahmed Saeed from his position as Fenaka's managing director due to his involvement in massive corruption. Shamil responded that issues related to Fenaka had been communicated to the Privatization & Corporatization Board (PCB) and other state agencies but did not confirm if any agency had been asked to dismiss Saeed.

The ACC's investigation aims to address the alleged corruption and bring accountability to the former leaders of Fenaka Corporation. The Commission's efforts are part of a broader initiative to combat corruption and ensure transparency within state-owned enterprises in the Maldives.