ACC to investigate two subsidiary companies registered under BML

The Anti-Corruption Commission (ACC) had said it will investigate two subsidiary companies registered under Bank of Maldives (BML).

ACC President Hassan Luthfy told local media that BML has been notified to halt operations of both the BML Properties Limited and BML Investment Limited.

Luthfy said the company has at present failed to provide documents on the two subsidiaries that it had requested, local media reported.

“We have been informed of problems related to the two companies through the media, and investigations are under way,” he was quoted as saying.

“Complaints include the issue of the chairman holding shares in the company, and the issue of efforts to manage mortgaged property instead of selling them as ordered by the court. Some people have also complained saying that their mortgages have been sold, and that their cases were not dealt with in the same manner.”