Prosecutor General's Office (PGO) has charged former MP Alhan Fahmy and his two brothers with fraud.

Besides Alhan, charges have been raised against Shahban Fahmy and Shazban Fahmy.

PG said that 13 fraud charges have been forwarded to the Criminal Court today against each of them.

According to the PG, charges have been brought forward against the trio after their company King's Capital Holdings offered various investment and forex packages to the public in 2021 and 2022 with the promise of great returns. The brothers have been accused of fraudulently obtaining investments in violation of laws, regulations, and policies regarding financial security in the Maldives.

Various individuals have invested more than MVR 98 million in the scheme released by King's Capital Holdings and a case has been filed over fraud against 13 investors.

More sections of the scheme are being investigated by the police and once they are completed and submitted to the office, a decision will be taken on further charges in the case after examining the sections.

The police had earlier raided the office of King's Company on a Court order and seized Alhan's passport and mobile phone. Bank of Maldives had also frozen the accounts of King's Company, but the Civil Court had last year ruled that the company's accounts had been seized illegally.