Thursday, April 9, 2009

Recovering even a single copper coin may be difficult


“This is your ransom. Two million dollars in unmarked bills, just like you wanted...,” Tom Mullen (Mel Gibson) in the 1996 movie ‘Ransom.’

Why, do you think, former President Gayoom (allegedly) used to pay in cash in his many trips abroad, in this day and age when all self-respecting presidents make their payments in credit cards or bank transfers? We may never know why he did it, but from watching thriller movies we have a fairly good idea why some others do it. (See quote above). It leaves no paper or electronic trail – and makes it that much more difficult to trace. Recovering even a single copper coin of embezzled money –if any –would be near impossible.

Dead ends and cold trails
Some years back I asked the Philippines Ambassador about the progress of recovering the over 1 billion dollars allegedly embezzled by former dictator Marcos. It appears that less than 1% of the sum was recovered, while the expenditure on the international investigations was higher. Marcos had transferred the money to dummy companies he had created. Investigators hunted the money from company to company across the globe. But in each case the trail ultimately disappeared in a non-existent company. Marcos had developed a smart way to cover his trail. But perhaps smarter would be to leave no trail at all.

Wealth beyond known sources of income
When Gayoom came to power in 1978, members of his family and in-laws were middle class people, some struggling with debts. When he left power in 2008, many of them were unimaginably rich, owning resorts and vast land holdings in Male. Many people believe such richness is well beyond their known sources of income. There are rumors of commissions, kickbacks and gifts for favors to international parties. It is unlikely that any records of such transactions would be uncovered in an investigation.

Siphoning?
For most of Gayoom’s regime government offices were required to import their needs of machinery and heavy equipment through STO and MGTC. Often the quotations from these companies were 2 to 3 times higher than direct quotes from suppliers. What happens to the difference between the two? Again, no evidence is likely to be uncovered.

Thus, it is quite likely that not a single copper coin is recovered in the investigation of the alleged corruption of the former government. So is it worthwhile to investigate? I’ll repeat here the answer that the Philippines Ambassador gave to this question: “Yes, it’s important to investigate. Even if no money is recovered, it will send a strong message to leaders who might think of becoming corrupt in the future.”

14 comments:

Anonymous said...

According to the previous constitution the President had powers to give state assets to who he pleases. He had powers to take loans without Majlis approval.President Gayoom did a lot for Maldives. It is time to repay him.

Anonymous said...

There is no point raking up these issues. Let Gayoom live in peace and dignity. We can't judge his past actions using our current standards.

Anonymous said...

for the past 30 years there was not much improvement to our country. Corruption was very high. Gayyoom was paid a higher salary and was living a life of a king. But still some stupid people think him stealing citizens money is good. Let the ordinary citizens live in peace and dignity, not gayyoom only. He screwed us enough.

Anonymous said...

There is a long list of things for which we can't forgive him:
1. Nepotism;
2. Wasting national wealth;
3. Lavish lifestyle at public expenses;
4. Brutal suppression of oppsition;
5. Spoiling the civil service by unneccessary promotions at the last minute;
etc.
etc.

Anonymous said...

Why are you people falling over your heads to pardon Gayoom? Has he asked for mercy? He remains unrepentful.

Anonymous said...

Gayoom is not in retirement. he is attacking the government. so the question of a pardon does not arise now.

Anonymous said...

I agree with the Philippines ambassador.

This is not talking about a past personal love affair or friendship which ended in bitterness, which later both parties can forgive each other and put it in the past.

This is talking about people stealing state assets, people's assets, etc, and therefore not something which we can forgive and forget.

Such crimes against the state and its people need to be investigated and wherever possible, trials held, because if we don't do it now, we will be sending a wrong message that anyone in present and future can rip off the country and get away with it.

It's amusing how some people (like Anonymous 4:06) can't tell the difference between a "personal crime" and a "crime against the people." Sad really.

Anonymous said...

corruption charges cannot be taken at personal level. Maumoon did what he did against the Maldivian people. Nobody can pardon him without a trial.

Anonymous said...

An apology from Gayoom is not enough. he must stand trial.

Anonymous said...

we will never know what Maumoon did. We will never know what nasheed will do. he is openly practicing what maumoon was doing in secret. we are going from bad to worse. this is a change. but not the change we wanted. vote wisely in the election. that's the last chance to save the nation.

Anonymous said...

gayoom probably knew along that nepotism was making him unpopular. but he could never give it up. what was the compulsion?

Anonymous said...

Gayyoom is right, he never use copper coins, he may have transfer through TT or TC. He is right , I also dont use copper coins any more as I use my ATM card now or VISA card.

Anonymous said...

Maumoon made Maldives what it is today. All the schools,airports,health centres,hospitals,seaports,roads,harbours,power houses , telecoms infrastructure etc etc the list goes on. If he stole how could he deliver all these . Now Achi Nasheed is trying to hawk away all the assets gathered over 30 years.

Anonymous said...

" Anonymous said April 13, 2009 7:59 AM
Maumoon made Maldives what it is today. All the schools,airports,health centres,hospitals,seaports,roads,harbours,power houses , telecoms infrastructure etc etc the list goes on. If he stole how could he deliver all these . Now Achi Nasheed is trying to hawk away all the assets gathered over 30 years."

Get your facts straight: Maumoon did not do the stuff you have mentioned. Just take few examples:
Airport - Form. President Ibrahim Nasir
Schools - Form. President Ibrahim Nasir
Hospitals - Form. President Ibrahim Nasir
Power House - Form. President Ibrahim Nasir
Telecoms - Form. President Ibrahim Nasir

and the list goes on