Malé, Maldives — Ibrahim Fazul Rasheed, Managing Director of the Housing Development Corporation (HDC), has resigned amidst a criminal investigation into irregularities in land allocations under the Binveriyaa Scheme. Fazul announced his resignation two days after the investigation began, stating that he wanted to ensure a fair and transparent inquiry while denying all allegations against him.

The police investigation, initiated following social media allegations, revealed that unverified documents were used to allocate land plots to ineligible individuals, including Fazul’s elder brother, Mohamed Fazeel Rasheed. The Maldives Police Service confirmed that these documents were issued by officials from the previous administration.

To address the scandal, the government has suspended all implicated HDC board members, senior management, and officials from the Housing Ministry. Superintendent of Police Rajnee Shuaib, initially leading the investigation, was removed from his role after allegations surfaced about his acquisition of a Vinares flat through HDC.

Authorities have reiterated their commitment to ensuring justice and accountability, with the investigation continuing to scrutinize all individuals involved.