Manday’s offices raided in K-Park scam probe

Police have begun raiding the offices of Hassan Mamdhooh (Manday) in the investigation into the fraudulent sale of apartments from the K-Park Residences, a condominium under development in Hulhumale’ by Hanbo.

Hanbo, which launched the K-Park project in 2016, is co-owned by Jin Shihu, a Chinese national, and Manday. Shihu owns 95 percent of the shares while Manday owns the remaining five percent.

The police raided multiple offices linked to Manday on Wednesday, most of them located in Hulhumale’.

Officers broke down the doors of some of the offices to force their way in.

The police have yet to make an official statement regarding the raids.

In a statement regarding the case, Hanbo said they found that unbeknownst to the company, Manday and a second person, Jaishan Saeed, had sold multiple apartments at the condominium using fraud and deceit.

Hanbo said that while the company’s official bank account is with the State Bank of India, large sums of money were deposited to a USD and MVR account opened with the Bank of Maldives, by forging the signature of the company’s managing director, Shihu.

According to Hanbo, the money was later taken out by Manday.

Manday denies the allegations against him.

Manday and two more people, identified by the police as a local and a foreigner, have been banned from traveling overseas as the police investigate the case.

Meanwhile, an Urbanco employee accused of involvement in the scam was suspended last week.