Sahubaan Fahmy has resigned from his position as the President of Maldives Media Council (MMC).
Sahubaan resigned from his position following two no-confidence votes taken by MMC to remove him as president, due to an ongoing police investigation on alleged money laundering carried out by a company co-owned by him. Although both no-confidence motions failed to acquire enough votes to remove Sahubaan as president, he resigned shortly after the second no-confidence vote. However, he will remain a member of MMC.
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 allegedly operated a Ponzi scheme, raising millions of dollars from investors and failing to pay back many of the investors. However, Sahubaan has denied any wrongdoing in the matter.