Al Jazeera: Malaysian businessman involved in Maldivian money laundering scheme
The scandal is unfolding in the Maldives
PETALING JAYA: Al Jazeera is alleging that a Malaysian businessman is involved in a $1.5bil (RM6.08bil) money laundering scheme in the Maldives.
Al Jazeera’s Investigative Unit exposed the alleged corruption in their documentary titled “Al Jazeera Investigates: Stealing Paradise” which was published on Tuesday.
In the documentary, the businessmen, identified as the “Malaysian architect of the deal” Faidzan Hassan was alleged to have “spun the web of front-companies through which the money would be laundered.
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| Faidzan Hassan implicated in Money Laundering With Maldivian President |
An undercover reporter posing as an “investment executive with a number of very wealthy clients” was seen to have caught up with an individual said to be Faidzan at a “luxury hotel” in Kuala Lumpur.
The man had told the reporter that he was able to move substantial amounts of money undetected.
He said that it was easier to deal in Euros as opposed to with US dollars as it was “quite tricky”.
The man goes on to reveal that the identity of the beneficiary is protected behind several “layers” all leading to “a Panama foundation” under his name.
“I have layered some of these structures up to seven layers,” said the man, while describing how he protects the identity of the people involved in order to bypass various jurisdictions.
When confronted by another Al Jazeera journalist moments after the meeting, the man denied denied any wrongdoing and said that his earlier comments had been misunderstood and taken out of context.
The documentary alleges that the Maldivian president Abdulla Yameen, its former vice president Ahmed Adib Abdul Ghafoor and Supreme Court Judge Ali Hameed Mohamed were among several high ranking officials involved in the scheme.
Several other businessmen including three others from Singapore and Indonesia were also alleged to have been involved in the scandal.Al Jazeera said that all those involved have denied any wrongdoing or that any money was moved.
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