Former Managing Director of Fenaka Corporation, Ahmed Saeed was transferred to Hulhumalé Prison on Sunday evening, shortly after receiving a four-year prison sentence for abuse of official authority.

The Criminal Court delivered its verdict earlier that afternoon, finding Saeed guilty of misusing his position to authorize a payout of MVR 848,000 to a private company under a questionable settlement agreement. Despite the state’s request for a lighter sentence of one year and seven months, the presiding judge imposed the maximum penalty allowed under the law.

The conviction stems from an investigation by the Anti-Corruption Commission (ACC), which uncovered that Saeed had approved the payment on 25 April 2019, without evidence of any contractual work being completed.

The case is part of a broader probe into financial misconduct at Fenaka Corporation. Alongside Saeed, the state has also filed charges against Mariyam Dheena, who served as the company’s Procurement Head at the time.

Saeed's imprisonment marks a rare instance of a senior official being held accountable for corrupt practices in a state-owned enterprise, highlighting ongoing concerns over systemic misuse of public funds and the lack of institutional oversight.