Police Raid Resort Operator’s Office Over Alleged Illegal Currency Trading

Police have raided and searched the office of Naid Investment Pvt Ltd in Malé over allegations that the company was conducting foreign exchange trading without a licence.

Police said that the operation was launched following allegations of widespread illegal buying and selling of foreign currency by the company without a money exchange licence issued by the central bank.

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The company’s bank accounts allegedly used to conduct foreign exchange transactions have been frozen, according to police.

Officers are continuing to search the company’s office at Dhanbu Goalhi as part of efforts to obtain further evidence in the case.

މޯލްޑިވްސް މަނިޓަރީ އޮތޯރިޓީން ދޫކުރާ މަނީ އެކްސްޗޭންޖް ވިޔަފާރި ހިންގުމުގެ ލައިސަންސް ނެތި ބޭރު ފައިސާ ވިއްކުމުގެ ވިޔަފާރި ފުޅާ ދާއިރާއެއްގައި ގާނޫނާ ހިލާފަށް ހިންގާކަމަށް ތުހުމަތުކުރެވޭ މައްސަލައަކާ ގުޅިގެން ނައިޑް އިންވެސްޓްމެންޓް ޕްރައިވެޓް ލިމިޓެޑުން ބޭރު ފައިސާގެ ވިޔަފާރި…— Maldives Police (@PoliceMv) September 1, 2026

Naid Investment Pvt Ltd operates Furaveri Maldives, a resort in Raa Atoll.

The raid comes a day after police announced that a special task force comprising relevant state agencies had launched an operation to identify and investigate individuals involved in unauthorised foreign currency trading in violation of the law and regulations.

Press Release by the @PoliceMv providing an update on the ongoing operations of the Joint Task Force established to identify, investigate, and disrupt illegal business activities involving expatriates pic.twitter.com/91NeSbM17h— Minister of Homeland Security, Labour & Technology (@min_mohst) August 31, 2026

Six foreign nationals were arrested during an operation conducted by the task force on Monday. The suspects comprise four Bangladeshi nationals and two Indian nationals.

Police said a total of MVR 54.4 million and USD 1.6 million had been circulated through the bank accounts of the six suspects over the past three years.