Majlis accepts motion seeking report on illegal oil trade involving ex-pres.

The People’s Majlis has accepted a motion seeking to obtain the report regarding a case where funds were embezzled in the illegal oil trade scam involving incarcerated former president Abdulla Yameen during the tenure of former president and his half-brother, Maumoon Abdul Gayoom through STO Maldives Singapore Private Limited, and forwarded it for committee review.

The motion was submitted by MP for West-Maafannu constituency Mohamed Falah during Wednesday’s parliament sitting.

MP for North-Galolhu constituency, Eva Abdulla proposed to send the motion for committee review and it was approved by the votes of 67 members.

The motion is to be reviewed by the Judiciary Committee.

The motion states that said report was scheduled for release the same day current parliament speaker and former president Mohamed Nasheed was run out of office through a coup d’état, and as such, seeks to find the report, 'wherever it may be'.

An international accounting firm was hired on 8th July 2010, to trace the missing funds and compile a report on its finding after STO Maldives Singapore engaged in illegal fuel trade and money embezzlement where a large amount was funneled through state coffers. The company was registered in Singapore as a 100-percent share of STO ownership in 1997.

The report on its findings was to be used to recover the embezzled money through the international justice system, however, the process was hindered following Dr. Mohamed Waheed assuming power in 2012 after a coup to overthrow the then administration of Nasheed.

During the debate on the motion, MP Falah accused Waheed of attempting to stop the process by covering it up after obtaining it from the firm by offering funds through state coffers.

MP Falah noted that the relevant documents related to the report will be with someone, highlighting the names of former Attorney General Azima Shakoor, former Finance Minister Abdulla Jihad and the Maldives Monetary Authority (MMA) as well as then-Governor Dr. Fazeel Najeeb.

Noting that the report was compiled under funds allocated through the state, MP Falah highlighted that the report does not belong to a certain person.

It is alleged that an international firm, Grand Thornton, was paid USD 10 million to stop the process of the investigation into the possible embezzlement of USD 800 million in the fuel scam. The USD 10 million was spent through state coffers as well and this was probed by the Anti-Corruption Commission (ACC) back then. However, the commission had later halted the investigation.

Yameen is currently doing time for a five-year prison sentence, after being convicted of money-laundering charges.