Authorities have seized the passport of former Fenaka Corporation Managing Director Ahmed Saeed, as part of an Anti-Corruption Commission (ACC) investigation. Saeed is under scrutiny for alleged corruption involving 60 projects reportedly benefiting select individuals during the previous administration.
ACC President Adam Shamil, addressing Parliament in July, outlined significant financial misconduct within Fenaka, which accumulated over MVR 4.3 billion in debt by the time the current government took office. He noted a pattern of abuse of power and substantial financial losses under Saeed’s leadership.
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Saeed is prohibited from traveling internationally while the investigation proceeds, and has not yet commented.
