Three lagoons connected to MMPRC corruption up for sale

K. Atoll lagoon leased to Depezar Services Limited | Photo: Google Maps

Malé, Maldives – Tourism Ministry on Thursday announced that the current owners of three lagoons in Kaafu Atoll have applied to transfer ownership to another party.

The lagoons owners include Sunny Holdings, Singapore, Depezar Services Limited, Turkey and Delma Company, Dubai.

The sale of the lagoons was carried out outside the law and while the owners had paid acquisition fees for the lagoons, the amount was not received by the government due to the MMPRC corruption.

Depeza Services and Delma Company paid USD 2.5 million and USD 300,000 respectively for the purchase of lagoons in Kaafu Atoll.

Among the issues, Sunny Holdings was formed after the sale of the respective lagoon. Depezar Services Limited is alleged to have close ties to money laundering according to the Pandora Papers and there is no contract with Delma Company.

Parties who wish to transfer rights to a Maldivian island must first apply to the Ministry of Tourism, upon which the Ministry will announce for any debts involving the island. The Ministry has announced a duration of 14 days for parties to come forward with grievances.

Tourism Ministry has not disclosed the new lessies of the lagoons.