Ahmed Shamah Rasheed, who was recently dismissed from his position as the Managing Director of STELCO, has categorically denied the authenticity of a leaked audio recording allegedly implicating him in corporate corruption. Shamah asserted that the audio is a complete fabrication designed to frame him, maintaining that the voice captured in the recording does not belong to him.
In the audio clip circulating on social media, a voice is heard suggesting that misappropriating funds from STELCO is more feasible than from MIFCO, and that only two specific employees are aware of these dealings.
While the Privatization and Corporatization Board (PCB) has not officially disclosed the grounds for his removal, it is noteworthy that Shamah had previously faced suspension over administrative concerns during his tenure as the Managing Director of MIFCO. Shamah marks the second individual to be dismissed from the role of STELCO’s Managing Director under the current administration.
