The presidential inquiry commission on asset recovery is investigating the housing scam allegedly orchestrated by local company Sealife Global. 

Sealife Global is a company hired by the state-run Housing Development Corporation (HDC) to construct a number of housing units. 

In November last year, victims of the scam filed a class action suit against the company, the HDC, and the Economic Ministry.

The victims say they paid MVR 50,000 as booking fees for properties in Hulhumalé. 

Sealife Global had taken funds from 280 individuals for flats that are yet to be built. Awareness campaigns for the scam say that Sealife’s managing director has been in hiding and that their offices have been shut down.

The case has also been filed with the Maldives Police Service and the Anti-Corruption Commission.