Senior Bank Executive Jailed in Moroccan MP Fraud Investigation

The investigation conducted by the BNPJ and the hearings of UC deputy Babour Sghir have proven fruitful. The deputy general director within BOA and two other bank employees and a notary from Settat suspected of being accomplices have been arrested. They are accused of having facilitated the fraud process of the banking institution. On Monday, the investigating judge ordered the detention of the senior bank executive.

BOA had filed a complaint against deputy Babour Sghir, accusing him of extorting nearly 300 million dirhams in loans and overdraft facilities from the bank through a fuel distribution company, with the complicity of certain bank employees. The MP had provided them with a falsified mortgage. He is being prosecuted for "fraud", "falsification of bank documents and their use", "deliberate dissipation of seized objects", "illegal obtaining of a certificate issued by public administrations by providing and using erroneous data and information" and "corruption".