The Criminal Court of the Maldives has sentenced Hassan Mamdooh to more than 390 years in prison following a high-profile fraud case involving the sale of K-Park residences. The prosecution detailed how Hassan Mamdooh (of Ma. Eralsie), acting in collusion with others, committed a series of criminal acts. These included forging the signature of Jin Shihu, the majority shareholder of Hanbo Company Pvt Ltd, to create fraudulent documents and unlawfully open bank accounts at the Bank of Maldives under the company’s name.
According to the state’s charges, the scheme involved deceiving the public into purchasing apartments at the K-Park Residence being developed in Hulhumalé. The investigation revealed that several units were fraudulently sold to multiple buyers. Mamdooh was found guilty of embezzling the proceeds from these sales and subsequently laundering the illicit funds.
