Malé, Maldives — The Board of the Housing Development Corporation (HDC), including Managing Director Ibrahim Fazul Rasheed, has been suspended as the Maldives Police Service investigates allegations of corruption involving the allocation of land plots under the Binveriyaa Scheme. The suspension also extends to Mohamed Fazeel Rasheed, Fazul’s elder brother and one of the reported recipients of the improperly allocated plots.

The investigation centers on reports that land plots, originally deemed ineligible during the evaluation process by the previous administration, were subsequently allocated to individuals by HDC. Among the plots in question are those left unallocated by the previous administration.

Authorities suspect that several of these plots, with an estimated value exceeding MVR 400 million, were improperly distributed and sold. Mohamed Fazeel Rasheed, Fazul’s elder brother, is alleged to have been one of the beneficiaries.

In a press conference, Ibrahim Fazul Rasheed denied any involvement in the alleged corruption, emphasizing that HDC does not handle land allocation under the Binveriyaa Scheme. Addressing his brother’s involvement, Fazul stated it was a “mere coincidence” and insisted he was unaware of Fazeel’s connection to the issue.

The government has assured the public that the investigation will be thorough and that rightful landowners under the Binveriyaa Scheme will not lose their entitlements. Officials have also reaffirmed their commitment to accountability and transparency in the ongoing probe.