The Sun Group has denied the money laundering charges pressed by the state against two of its companies.
Prosecutor General’s Office (PGO) pressed charges against Sun Investment Private Limited and Sun Construction Engineering Private Limited for laundering USD 1.1 million acquired by former President Abdulla Yameen as a bribe through the corrupt lease of Fuhgiri, Raa Atoll for resort development. Former President Yameen has been charged with money laundering and bribery, while Ahmed Kurik Riza has been charged for being the facilitator to money laundering.
However, during the hearing held at the Criminal Court on December 6, the legal team of Sun Group denied the charges pressed by the state. The Sun Group’s lawyers claimed there is no valid evidence suggesting that the funds specified in the charges had been acquired through bribery. They noted banks would notify authorities regarding large and suspicious transactions, although there is no document that indicates any authority was informed on the transaction. They also noted the state had pressed charges based on a transaction made a long time after the funds in question had been deposited in the bank account of Ahmed Kurik Riza.
However, the state attorneys said the statement given by the Chairman of Sun Group Ahmed Siyam during the investigation proves the funds were acquired through bribery and corruption. As such, the state attorneys noted Siyam had told investigators that former President Yameen had informed him about an incoming USD 1.18 million through the lease of Fuhgiri, which would be carried by Ahmed Kurik Riza. They also noted the funds were kept in Riza’s account for a long time in order to show the funds were legitimate.
The hearing held on December 6 was the second hearing of the trial on the money laundering charges pressed by the state against Yameen, Kurik Riza and the Sun Group. The hearing was concluded after providing the plaintiff and defendant a duration of 15 days to provide additional supporting documents.
Sun Group’s Chairman Ahmed Siyam Mohamed, who is also the leader of Maldives Development Alliance (MDA) and the incumbent Parliamentarian for Dhaalu Meedhoo constituency, is a close acquaintance of former President Yameen. During the presidency of Yameen, the government had also issued sovereign guarantees for loans taken by Sun Group.
Yameen is already serving a five-year prison sentence after being convicted of laundering USD 1 million acquired through the lease of Vodamula, Gaafu Alifu Atoll for resort development through Maldives Marketing and Public Relations Corporation (MMPRC). The sentence has been appealed at the High Court of the Maldives.