Jabir’s bank accounts frozen in USD 600,000 lawsuit

The Civil Court has ordered for Kaashidhoo MP Abdulla Jabir’s accounts to be frozen in a lawsuit lodged against him claiming he failed to honor an agreement to pay USD 750,000 to buy 50 percent of shares in Marine Technology Maldives.

According to the lawsuit, Jabir made an initial payment of USD 50,000, and then USD 100,000, out of the agreed purchase price, and failed to pay the remaining USD 600,000.

The plaintiff claimed Jabir had agreed to settle the debt from the sale of a lagoon in K. Atoll owned by Jabir’s J Hotels and resorts.

Jabir got USD 15 million from the sale of the lagoon. But paid the plaintiff only USD 100,000. The plaintiff claimed that the lawmaker, when contacted for the remaining payment, spoke foul language and refused to pay the money.

The Civil Court issued an injunction to freeze bank accounts in Jabir’s name, as well as the accounts of some of the companies he has significant stakes in – J Hotels and Resorts, and International Travel Consultant.

The court ordered to freeze only USD 600,000 if the accounts hold that amount of money, but the entirety of the funds if the accounts hold less than that amount.

The order was directed at seven banks Jabir has accounts in; Bank of Maldives, Maldives Islamic Bank, State Bank of India, Bank of Ceylon, Commercial Bank of Maldives, Mauritius Commercial Bank, and Hong Kong and Shanghai Banking Corporation.