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A digest of news and opinion from the Maldives.

dollar exchange scam

Fenaka audit exposes rampant corruption at utility corporation

Fenaka audit exposes rampant corruption at utility corporation

4 min read

A special audit of the Fenaka Corporation has uncovered a foreign exchange scam and corrupt fuel supply and procurement deals that cost the state-owned utility company millions in losses. The damning audit report made public Wednesday flagged several suspicious transactions in 2014 and 2015 that unduly benefited private parties, including the conversion of local currency […]