Maldives bank refuses to accept “laundered” US$10M deposit from Guyanese investor

Maldives bank refuses to accept “laundered” US$10M deposit from Guyanese investor

A view of a section of Male, the capital city of the Maldives, a country made up of several atolls in the Indian Ocean.

Male- Capital City of the Maldives

Malé, Maldives; – The Guyana Guardian has been reliably informed that an Asian bank in the Maldives, a multi Island State in the Indian Ocean, has reportedly refused to accept an unusually large deposit from a once politically-connected Guyanese who is known to be already investing in the hotel business in that country, and is said to have close ties to embattled Maldivian President Abdulla Yameen.

Citing the individual’s (subsequent) inability to provide adequate proof regarding the origins of the funds, a bank source with close links to the international journalism fraternity told this publication that the bank has been refusing to accept the incoming transfer from a New Delhi based bank on behalf of the customer for the past two months since the said bank is already running on a thin line with a Western financial oversight body.

However, ironically, the same bank is said to have previously facilitated millions of dollars in transfers for the said individual among others, without due process.

Over the past year more than a dozen Guyanese are said to have made investment and settlement residency applications to the government of the Maldives.

And even though Guyanese are not known to be traditional immigrant investors in that country, sources are questioning the sincerity of some of those who had came to the islands in that capacity.

In at least five cases, the investors would have recently acquired Indian citizenship and Indian passports, and are basically making investment applications as Indian citizens, with only an indication that they were born in Guyana.

But while there is nothing wrong in Maldives law to conduct business under any one of an individual’s citizenships, the recent rush by many of these Guyanese investors to set up operations there under the protection of the Indian flag is raising eyebrows.

The Maldives is made up of a series of islands in the Indian Ocean and attracts hundreds of thousands of visitors to its turquoise waters and beautiful beaches each year.

It is also known as an ideal location for troubled businessmen and politicians to frustrate their potential extradition to another country, or to simply disappear in plain sight.

A few days ago, one of the world’s most influential news networks, the Aljazeera channel, published a documentary in which it had claimed that Maldives President Abdulla Yameen had conspired with several businessmen to facilitate the laundering of more than US$1.5 billion through the country’s central bank.

(See story here)

The Guyana Guardian was able to obtain the identities of some of the involved businessmen through some assistance from the Al Jazeera Network. And was also able to determine that, apart from the previously identified persons from Malaysia, Singapore and Indonesia; a former Guyana government official, and the Guyanese businessman (whose US$10 million deposit was rejected) are also indirectly linked to the same money laundering plot.

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  • guyaneseonline  On October 13, 2016 at 7:33 am

    After elections loss, former PPP/C ministers adjust to life in Guyana and out
    By Staff Writer On January 11, 2016 @ 5:08 am In Stabroek News

    Following the People’s Progressive Party/Civic (PPP/C) loss in last year’s May 11 general elections, some of its former ministers have moved to new pastures outside the country while others remain here though not representing the party in the National Assembly.

    The PPP/C had replaced just under one-third of its Members of Parliament from the 10th Parliament. These include former Prime Minister Samuel Hinds and former Ministers of Finance, Foreign Affairs, Public Works, Natural Resources, Labour, Human Services, Local Government, and Agriculture, respectively Ashni Singh, Carolyn Rodrigues-Birkett, Robeson Benn, Robert Persaud, Nanda Kishore Gopaul, Jennifer Webster, Norman Whittaker and Leslie Ramsammy.

    Ramsammy’s junior Ali Baksh as well as parliamentarians Bibi Shadick and Kwame Gilbert are off the PPP/C parliamentary list as well.

    When contacted, Rodrigues-Birkett told Stabroek News that she currently is working in Rome for the Food and Agriculture Organisation (FAO). “I am presently spending much needed time with my family while working for the UN FAO Partnerships office based in Rome,” she said.

    Stabroek News understands that Singh is currently working overseas and while some say he is in the Maldives, persons close to him say he is not though they informed that the former Finance Minister has taken up an overseas job. The source was quick to say that Singh nonetheless remains committed to the party and should he be asked for assistance in areas of his expertise, he would be willing to give it. [Read more]

  • Tulsie Das  On October 13, 2016 at 9:41 am

    The Bank has a moral obligation to get the Authorities involved and have those funds returned to the Guyana Government.

  • Tata  On October 18, 2016 at 11:59 pm

    I hope to God, these greedy Bastards be brought to justice for this agregious crime against the Guyanese people. The Currrent government, promised to bring these THIEVES to justice a long time ago. But, this is too long now! The world can now see what many law abiding Guyanese citizens had been saying all along about the corrupt practice of the past government. As a matter of fact, They all should be jailed for the corruption that has become A signature of Guyana’s future.

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