National Security Committee to resume STO oil trade investigation

The National Security Committee has decided to resume its investigation into the alleged US$800 million illegal oil trade involving the State Trading Organisation (STO).

The scandal emerged last year after an Indian magazine described Abdulla Yameen -former head of the STO and half-brother of former President Maumoon Abdul Gayoom – as “the kingpin” of a scheme to buy subsidised oil through the STO’s branch in Singapore and sell it on through an entity called ‘Mocom Trading’ to the Burmese military junta, at a black market premium.,

Committee Chair Maldivian Democratic Party (MDP) Chairman ‘Reeko’ Moosa Manik said that information will be gathered from the Attorney General and the ACC, reported local media.

Yameen was summoned for questioning last by the committee last year, telling the members that he was not aware of Mocom’s activities.

In August, the MDP accused the government of calling a halt to the investigation after the Attorney General (AG) revealed that the government had received a bill of $10million from the forensic accounting firm Grant Thornton.

The MDP alleged was a penalty imposed for cancelling the firm’s investigation into the case.

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