K-Park case: 201 charges filed against Manday and Jaishan

Prosecutor General’s Office (PG Office) has filed 201 charges against Hassan Mamdhooh (Manday) and his acquaintance Jaishan Saeed in connection to the fraud in the sale of apartments from K-Park Residences – a condominium under development in Hulhumale’.

PG Office said the charges were filed against the suspects on Tuesday following the completion of the investigation, in collaboration with the police and 51 individuals who were declared victims in the case.

The charges against Manday are as follows:

• Three counts of knowingly providing a counterfeit document to a person to defraud them  
• 50 counts of misappropriation
• 50 counts of fraud
• One count of money laundering

The charges against Jaishan are as follows;

Three charges of knowingly providing a counterfeit document to a person to defraud them 

• 20 counts of misappropriation
• 27 counts of participating in misappropriation
• 47 counts of fraud
• One count of aiding in money laundering 

As per PG Office, the charge of knowingly providing a counterfeit document to a person to defraud them has been brought against the suspects for submitting documents to the Bank of Maldives (BML) in the name of Jin Shihu, the 95 percent shareholder of Hanbo Company Private Limited, without his knowledge, by forging his signature.

Meanwhile, the charges of misappropriation and participation in misappropriation have been brought against the suspects for selling more than one apartment from K-Park Residences to misappropriate these funds while the charges of fraud have been brought against the suspects for defrauding the buyers of the apartments.

PG Office, noting 23 apartments from K-Park Residences were sold to over 50 people, said some apartments were sold to six people alone.

They also stressed compensation is sought for the buyers through these charges for losses they have incurred.

The fraudulent sale of the apartments from K-Park Residences was submitted for police investigation by both Hanbo – the project’s developer - and Urbanco.

Manday, the former minority shareholder at Hanbo, was arrested by the police, but was later granted conditional release by the court. His passport remains withheld, alongside Jaishan’s.

Furthermore, a penthouse apartment owned by Manday was seized by the state as part of the investigation on November 19^th .

During the raid of the penthouse, the police found items worth around MVR 7 million, including 200 unopened perfume bottles, luxury bags, and jewelry; all which were seized.

Manday unsuccessfully appealed the seizure order with High Court, which rejected the appeal.

Hanbo has accused Manday of forging the signature of the company’s managing director to open an MVR and dollar account with BML through which he had misappropriated funds from customers despite the company already having opened its banking account with State Bank of India.

They have further accused Manday of withdrawing the money deposited to the accounts by customers.

Manday has denied the allegations against him and has expressed his intention to cooperate with the authorities concerning the ongoing case.