President Abdulla Yameen Abdul Gayoom Sunday downplayed the largest graft scandal in the archipelago's history insisting that its "impact" was minimal.
Maldives Media and PR Corporation (MMPRC) had mediated the leasing of over 59 different tourist hotels, resorts and yacht marinas out of which 53 had been leased through an agreement with the tourism ministry.
The official audit report into the scandal, had revealed that over USD79 million had been embezzled through the state tourism promotion company.
The funds received by MMPRC was distributed through a private company with strong links to jailed former vice president Ahmed Adheeb Abdul Ghafoor.
Speaking during a ceremony held to welcome new members to the ruling Progressive Party of Maldives (PPM), president Yameen insisted that despite the large sum involved, the government would be able to recover the stolen funds.
The president insisted that the corruption in parliament and buying-off lawmakers was much worse than the MMPRC scandal.
"I would label the money injected to buy-off lawmakers as the biggest graft scandal. In terms of the sum involved the MMPRC scandal might be bigger, but the corruption in parliament is way worse when you consider the impact it has had on the state," president said reiterating that the opposition had bribed government lawmakers to wrest parliament control from the ruling coalition.
Opposition Jumhoory Party (JP) leader Gasim Ibrahim is on trial for allegedly bribing lawmakers to back an opposition led move to unseat the speaker while president Yameen's nephew, Dhiggaru MP Faris Maumoon has been remanded over the same allegations.
