Bank Manager in Morocco Jailed for Alleged $260,000 Embezzlement Scheme

It all started with a routine check, the visit of a central control commission from the parent bank. The commission discovered that many doubtful loans had been granted to clients who had in common having repaid two or three installments, reports the Arabic-language daily Assabah. Except that the loans have not been repaid. The commission accused the head of the bank branch of not having smoothed out these many outstanding loans. It suspects an embezzlement of 2.6 million dirhams.

The results of the preliminary investigation conducted by the judicial police under the prefecture of the national security of Tétouan confirmed the suspicions of the commission. The branch manager will be arrested, placed in custody before being placed in detention on the orders of the investigating judge and on the recommendation of the public prosecutor’s office. During his hearing, the accused admitted the facts. Pending his trial, the king’s prosecutor near the court of first instance of Tétouan ordered an investigating judge to open a detailed investigation into the case.