The Anti-Corruption Commission (ACC) has asked prosecutors to raise charges against Mohamed Nimal, the Fenaka Corporation former managing director and three other individuals.
The case involved transactions made with Sharu Launch Services, against the Finance Ministry’s procedure on such matters, to exchange large sums of local currency for US dollars.
The Prosecutor General’s Office has been asked to also raise charges against Fenaka Corporation’s chief technical officer, deputy director, and director.
An ACC probe found that the Fenaka Corporation, during Nimal’s time in office, had paid Sharu Launch Services a sum of over MVR 17 million as advance payment to acquire a total of USD 1.1 million.
Fenaka had also prepared a payment of over MVR 4 million (4,626,000), which was signed by the corporation’s chief technical officer and deputy director.
Further, another payment of nearly MVR 6 million was prepared, and authorized by the deputy director, to purchase a sum of over USD 300,000. The report also found that Fenaka’s director had signed off on a payment of MVR 7 million (7,231,980) to acquire a sum of USD 469,000.
The ACC’s report said that these officials had signed off on the aforementioned payments without ensuring that Sharu Launch Services, which is now in a dispute with the corporation at the Civil Court already having lost on to STELCO, is capable of holding up their end of the transaction.
State prosecutors in September decided to move forward with a criminal case against the operators of Sharu Launch Services.
The agreement between Fenaka and Sharu Launch Services was that the sum be transferred to the state operated company within a period of thirty days. The company had issued a series of cheques, allegedly bearing a guarantee from the Mauritius Commercial Bank, which had all bounced.
Fenaka Corporation’s Managing Director Ahmed Shareef said that Sharu Launch Services had proposed to pay the sum in installments before the year 2030.
Fenaka had refused this proposal and counter-proposed that Sharu Launch Services make the payment in three cheques – which was denied by the company.
