Crime Legal Money Laundering

High Court orders authorities to unfreeze Yameen’s bank accounts

High Court has ordered State authorities to unfreeze the bank accounts of former Maldivian President Abdulla Yameen Abdul Gayoom.

Authorities were granted an order to freeze Yameen’s bank accounts by the Criminal Court in connection with the money laundering case against the former President, after a USD 1 million deposit to one of his accounts at the Maldives Islamic Bank (MIB) was traced to funds embezzled from Maldives Marketing and Public Relations Corporation (MMPRC).

The USD 1 million was deposited to his account in two instalments of USD 500,000 from SOF Private Limited – the company implicated in laundering the embezzled funds from MMPRC.

The High Court issued its verdict following the appeal filed on behalf of Yameen over the freeze on his bank accounts this Sunday afternoon.

The court ruled that the order violated Article 72 and Article 73 of the Penal Code and annulled the order.

Full details are available at the link below:

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Source URL: Sun.mv

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