MMPRC financial transactions not fully verified

The Audit Office stated that the MVR3 billion transaction conducted by Maldives Marketing and Public Relations (MMPRC) in 2015 is not verified.

According to the financial report released three years later, the total amount of money MMPRC should receive, the money they are indebted to and the amount of money in their accounts are not fully clarified.

The Anti Corruption Commission (ACC) stated that MMPRC had given MVR1.3 billion worth of state money to a private company dubbed SOF, under the guise of tourism development. This embezzlement was first stated in an audit report in 2015, and later ACC had provided a full report in February 2019.

The reason behind the delayed publishing of the financial report was not stated.

The report stated that MMPRC owes MVR1.5 billion to the tourism industry, however, this amount is not verified.

It further stated that the MVR166 million cash transactions were also not proven to be valid, with the transactions not allowed to be monitored by ACC.

Whilst it is revealed that MMPRC had a total of MVR57 million in 2015, it was not verified that this was the amount that should have been in the account.

The total income incurred by MMPRC in 2015 was said to be MVR96 million. Out of coast sales were said to be MVR70 million. However, all the aforementioned values are not proven to be valid.

The Audit Office stated that sufficient information were not received from MMPRC, therefore, a fully detailed report of the financial state of MMPRC was not conducted.

With regard to the MMPRC embezzlement case, the former Vice President, Mr Ahmed Adeeb and the former Managing Director of MMPRC, Mr Abdullah Ziyath have received a lengthy jail sentence.