Moroccan Bank Fraud Suspect Arrested in Ongoing Embezzlement Investigation

The suspect, wanted since the outbreak of the case in 2017, is accused of having obtained loans through fictitious promissory notes. This process would also have been used by other individuals, including businessmen and farmers in the region, to obtain credits without real guarantees.

The investigations revealed that the director of the bank branch in question recorded the value of the promissory notes on the clients’ accounts, then concealed their payment by recording them on an internal account, without forwarding them to the central office. According to the newspaper Assabah, this method facilitated the embezzlement of 75 million dirhams.

The legal representative of the bank indicated that the accused had obtained a loan of 1.45 million dirhams without a valid promissory note. Although the amount has been repaid and the bank has withdrawn its complaint, justice is prosecuting her for complicity in embezzlement.

The woman was brought before the Criminal Chamber of the Court of First Instance in charge of financial crimes in Rabat. Her trial is due to open next Monday. The investigations are continuing and could reveal other people involved.