The Criminal Court has sentenced a man to prison in a case where he obtained funds from an individual under the pretext of selling USD, but after taking the money, neither provided the USD nor returned the funds.

In this case, the Criminal Court delivered its verdict against Mohamed Saeed, M. Assidha.

The state prosecuted him on charges of theft in connection with this matter.

According to the state's charge, on various days in September 2025, Mohamed Saeed had been procuring USD for Moosa Rasheed, Hulhumalé Flat No. 10019.

Accordingly, on September 3, 2025, to purchase USD for Imo Enterprises Private Limited—a company in which Moosa Rasheed is a shareholder—MVR 203,500 was deposited from the company's account at the Bank of Maldives into an account opened in Saeed's name at the Bank of Maldives. The charge stated that after acquiring USD using those funds, he neither handed over the USD to Moosa Rasheed nor returned the money.

In addition to the theft charge, the state also requested that MVR 203,500 be recovered from Mohamed Saeed as compensation for the loss suffered.

Although Saeed denied the charge, the court ruled that the charge was proven against him based on witness testimonies, sentencing him to 1 year, 7 months, and 6 days in prison.

Additionally, the verdict ordered Mohamed Saeed to pay MVR 203,500 to Imo Enterprises Private Limited as compensation for the loss incurred, instructing him to settle the amount through the Civil Court within a period of two years.