Former MMPRC MD Abdullah Ziyath and businessman Hamid Ismail have been pronounced guilty over the Maabinhuraa embezzlement case. Criminal Court sentenced Ziyath to serve eight years in jail, while Hamid was sentenced for two years.
State had filed the embezzlement charges against the two, stating that the lease amount for the acquisition of Lh. Maabinhuraa to Kuredu Holding by MMPRC was transferred to Millennium Capital accounts. Hamid is a shareholder of Millennium Capital.
The charges against Adeeb, Ziyath and Hamid says the state should receive US$ 5 million from the lease of the island. Part of the proceeds were deposited into Millennium Capital account and US$1.5 million and US$ 800000 had been deposited into Montillion, a company owned by the former VP. The charges raised against the three said the entire procedure was taken up on the orders of Adeeb.
An additional charge had also been raised against Ziyath in connection to the MMPRC embezzlement; the hearings of these cases are underway. This is the only embezzlement charge raised against Hamid.
The verdict was announced in a secret session of the Court. Former Vice President Ahmed Adeeb had been sentenced to eight years on the same issue.
