The former Managing Director of the Housing Development Corporation (HDC) Ibrahim Fazul Rasheed has responded to media reports claiming that the police discovered MVR 1.4 million in his home when searching his apartment.
The newspapers reported that the cash was found by the police on December 23, while searching his home under a court order regarding a corruption case involving the misallocation of land plots under the government’s Binveriyaa Housing Scheme.
In a social media post, Fazul implied that the cash was paid to him by a company as payment for a service. Shortly after, a local business, Relax Ferry Service clarified on their Facebook page that the company paid the amount to Fazul in cash to build a speedboat. Fazul also re-shared the post.
According to Relax Ferry Service, the company collaborated with Fazul in 2022 to build a speedboat. Due to the impeccable quality of the first boat, the company ordered a stone boat in December and paid MVR 1.4 million in cash following extensive discussions earlier in the year, the company said.
