Moroccan Banker Sentenced to 5 Years for $3.8 Million Embezzlement Scheme

10 October 2023 – bySaid · 1 min read

A former employee of a bank in Tétouan, accused of embezzling funds worth 3 million dirhams and 600,000 euros, was sentenced to five years in prison by the Criminal Chamber of the First Instance Court in charge of financial crimes at the Court of Appeal of Rabat.

The individual was found guilty of "misappropriation and squandering of public and private funds" as well as forgery of official documents. Internal investigations conducted by the bank have shed light on these reprehensible acts qualified as "financial crimes".

The defendant was brought before the Rabat public prosecutor’s office, then before the investigating judge in charge of financial crimes, who ordered his detention. The investigation revealed that the former employee had diverted funds from client bank accounts and deposits at the banking institution between 2021 and 2022, in addition to falsifying official documents.

Category: Morocco

Keywords:

Tetouan Trial Banks Theft Fraud