RDC Investigates Unaccounted RF 161 Million Transfers by Former Management

The Road Development Corporation (RDC) has revealed that its former management, led by Moosa Ali Manik (Mookey), transferred RF 161 million into various accounts without proper documentation.

Current RDC Managing Director Brigadier General (retd) Ali Zuhair informed the State Owned Enterprises Committee of the Parliament that RF 66 million was transferred in 2022 and RF 95 million in 2023 without any corresponding invoices or transaction details. The company has recently received financial documents from the former management, which are now under scrutiny.

Investigations by the police and the Anti-Corruption Commission are underway. The RDC highlighted discrepancies, such as projects in rural areas costing RF 42 million but RF 140 million was reportedly spent. At the takeover, RDC owed RF 837 million, of which RF 152 million has been repaid, reducing the debt to RF 685 million.

Additionally, RF 90 million released by the Finance Ministry in November last year was largely unaccounted for, with only RF 4 million remaining when the new government took over. The RDC alleges attempts to funnel payments to certain companies through these transactions.

RDC has started transferring implicated employees to other departments and is preparing to take further action.