Chairman of Fenaka Corporation, Mohamed Nadheem has resigned after anti-graft watchdog Anti-Corruption Commission (ACC) launched a probe into theft of USD 1 million from state coffers.
- No official confirmation has been made in this regard and the reason for the same is stated to unclear
- Nadheem is the husband of former President Maumoon Gayoom’s daughter Yumna Maumoon
- The company is undergoing major changes in top management after the allegations of corruption
- MVR 17 million issued by the corporation USD 1 million went missing in August this year
- Former Managing Director of Fenaka Corporation, Ahmed Nimal was removed from his position on September 26
Nadheem in his resignation letter to Privatisation board said: