Bank Officials on Trial for $10 Million Embezzlement Scheme in Morocco

The court postponed the hearing last Monday to April 14, at the request of the defense lawyers of the main accused, the regional director of the Moroccan Union of Banks. The latter requested this delay to submit a request for damages to the court, reports Assabah.

The two accused are being prosecuted in detention for breach of trust, embezzlement, falsification of banking documents, misappropriation of public funds, forgery and use of forgeries. They are notably accused of having embezzled more than 100 million dirhams, the daily specifies.

During his interrogation as part of the in-depth investigation that lasted six months, the main accused stated that "these embezzled amounts were spent to ensure the maintenance of the Moghreb Athletic Tetouan (MAT) team in the first division".

He added that "he intended to repay these sums of money as soon as the MAT’s mission was assured and that sponsors would intervene in the sponsorship circuit". Despite these statements, the investigating judge decided to prosecute him while in detention.