The Anti-Corruption Commission (ACC) has said the Corporation is looking into a case alleging that all funds budgeted for 60 projects undertaken by FENAKA Corporation Limited have been depleted before the completion of the projects.

Responding to a question from Fuvahmulah South MP Ibrahim Hussain seeking details of the issues being investigated by the ACC at a meeting of the Parliament's Independent Institutions Committee today, ACC's President Adam Shamil said that FENAKA had announced 60 projects and budgeted, but after the completion of 14 of them, the issue of lack of budget was submitted to the ACC by a private party.

"We have taken cognisance of the complaint filed by the anonymous party and the preliminary assessment has been completed," he said.

Shamil said that in relation to the case, ACC is now looking at how those who have gained additional financial benefits have acquired undue wealth. The manner in which undeserved wealth was acquired can be ascertained through a net worth analysis of the people involved in the cases, a transaction analysis of how they conducted bank transactions, and how they received financial benefits.