The Maldives Police Service has searched the residence of Ibrahim Fazul Rasheed, the former Managing Director of the Housing Development Corporation (HDC), as part of an ongoing investigation into the Binverin and Gedhoruverin housing schemes.
The search operation was conducted late at night at Fazul’s residence, M. Zaevaru, under a court warrant. Police confirmed that several items, including electronic devices relevant to the investigation, were seized during the operation.
Fazul’s resignation as the MD of HDC came on December 21, amid mounting allegations of corruption and embezzlement. His resignation followed his suspension on December 19 as state institutions intensified their probes into the accusations against him.
In a press conference held on December 18, Fazul denied all allegations, stating his intention to provide a comprehensive response to the claims.
The police have assured the public that updates on the investigation will be shared as it progresses.
This case has drawn significant public attention due to the scope of the allegations, which are tied to pivotal housing schemes aimed at addressing pressing housing needs in the Maldives.
