Moroccan Banker Faces Trial for $1.2 Million Client Fund Embezzlement Scheme

The criminal chamber of the Court of Appeal of Rabat in charge of financial crimes will soon look into the case of this cashier working in a bank branch in Tangier, accused of having improperly transferred 12 million dirhams from his clients’ accounts to the accounts of his relatives and acquaintances. The misappropriation was discovered after an inspection carried out by the headquarters of the state-owned financial institution, reports Assabah.

The cashier and 26 co-defendants are being prosecuted for embezzlement, misappropriation of public funds and falsification of bank documents and computer files. While six of the accused were placed in pre-trial detention at the El Arjat prison in Salé, the others were prosecuted on provisional release. Some of the 26 co-defendants were arrested in Beni Jmil in the province of Al Hoceima, the hometown of the main accused, others were apprehended in Sefrou, Taounat, Chefchaouen, Tetouan, Ksar El-Kebir, Tangier, Rabat, Ain Aouad or Casablanca.