A resolution has been filed in the People’s Majlis urging swift action in response to the audit report uncovering large-scale embezzlement at Fenaka Corporation.
Madaveli MP Mohamed Shameez submitted the resolution today. He cited the Audit Office’s findings on Fenaka’s 2021–2023 transactions. The report said illegal spending caused losses of billions. It marked the largest embezzlement by a state company in Maldivian history.
The audit showed Fenaka spent MVR 8.8 billion. Some money went to non essential projects. This worsened the company’s finances. Shameem urged authorities to investigate and act.
Fenaka pledged reforms. The company promised stricter procurement checks, restructuring, and legal action against negligent staff.
