Moroccan Bankers Accused of $4 Million Embezzlement Scheme in Casablanca

The arrest of the merchant reveals the involvement of two bankers, as well as an intermediary, in the manipulation of several company accounts, reports Assabah. In a letter addressed to the public prosecutor’s office of the court of first instance, the merchant recounts how he was duped by the two bankers. The latter allegedly asked him to open bank accounts for three companies in his name and those of two members of his family to partner with them in commercial transactions.

To gain his trust, the two bankers seduced their associate through two operations. The merchant bought construction materials from a company that he paid with checks before delivering the goods to a client. But after this delivery, he did not receive either a check or a bank draft in exchange for this sale. Three days later, he discovers that his account has been credited with the amount corresponding to the sale of the goods. The two bankers then carried out a second similar operation.

He will discover the truth after finding that the checks he issued to his suppliers were paid by the bankers while the accounts of his companies are not sufficiently provisioned. As a result, his companies are drowning in debt, and he will have to face a debt of 40 million dirhams. A sum embezzled by his associates. The merchant will be arrested for fraud and fraud as well as for issuing bad checks.

For now, an investigation is underway to shed light on this case.