The Criminal Court has found former President Abdulla Yameen guilty of corruption and money laundering charges related to the sale of resort development acquisition and leasing rights to Vaau Atoll Aarah.

The charges alleged that the acquisition rights for the island were given away below market rates while the second charge relates to the consequent transfer of illicitly gained funds and laundering.

During the trial hearing held today, Criminal Court Chief Judge Ahmed Shakeel had stated that it is evident that Yameen had tried to lease the island to Yoosuf Naeem through MMPRC. He further added that the evidence submitted by the state prove that his accounts received the amounts he had requested following the leasing of the island.

Judge Shakeel noted that as per paper traces, it can be seen that a cheque from Yoosuf Naeem's account was deposited to Yameen's account, adding that such a large transaction into the account of a sitting President was suspicious. This transaction created room for questions as the constitution states that the President must remain clear from any such businesses and the money being deposited to his account while a company with Yoosuf Naeem's stake in it was involved with the leasing of the island lead to suspicions of foul play.

While the Judge announced that Yameen had been found guilty of the charges, he noted that after the USD 1 million was deposited into his account, he had invested the money alongside other funds to further profit from the corruption.