Police launch investigation into Sea Life housing fraud scandal

Maldives Police Service’s Economic Crime Department has launched an investigation into the Sea Life Global housing fraud scandal.

Sea Life announced its scheme for a 3,000-apartment complex in Hulhumale’ in 2015.

280 tenants paid the booking fee of MVR 5,000, some paying more than the MVR 50,000, but the apartment complex was never built and the tenants never reimbursed for their down payments.

A class action lawsuit has also been filed against Sea Life Global on behalf of 146 victims of the scheme.

MPS has asked for more victims of the fraud case to come forward and present the agreements made with Sea Life Global to the authority.

The case has also been submitted to the Anti-Corruption Commission (ACC) for investigation.