Moroccan Bank Executives Jailed for 21 Years in Customer Account Fraud Scheme

In addition to these custodial sentences, the defendants were also fined 250,000 dirhams, reports Al Akhbar. In detail, the director was sentenced to six years in prison with a fine of 100,000 dirhams, as well as the confiscation of the credit balance of his bank account. As for the three other defendants, they were each sentenced to 5 years in prison and a joint fine of 150,000 dirhams.

The case came to light when inspectors at the main branch discovered suspicious movements of tens of millions of dirhams, not justified, in the Essaouira branch. They were informed by a Souiri businessman living in Meknes. The victim noticed a suspicious withdrawal of nearly 4 million DH from his account.

Following a complaint to the regional judicial police brigade in Marrakech, an investigation was opened under the supervision of the competent prosecutor’s office. The investigations revealed that the branch manager was operating with complete impunity thanks to the access code of his accomplice. They had taken advantage of the passivity and complicity of the regional inspector to continue their crime.