Maldives Media Council (MMC) has issued a resolution with signatures of 9 members of the council, calling for the resignation of the President of MMC Sahubaan Fahmy.
The resolution by MMC stated the allegations of money laundering raised against a company co-owned by Sahubaan are serious and concerning. The resolution stated the majority of the council believes it is best that Sahubaan does not continue to lead the parental body of the media with such serious accusations against him. The resolution said the deadline given to Sahubaan to make a decision on resigning has already expired, and thus called for his immediate resignation.
Maldives Police Service (MPS) is conducting an investigation into alleged money laundering carried out by a company called King’s Forex, co-owned by former Parliamentarian Alhan Fahmy along with his brother Sahubaan Fahmy. The company had operated a Ponzi scheme, raising millions of dollars from investors and failing to pay back many of the investors.