Wednesday, August 10, 2016

BICEC: Four Arrested for Alleged Theft, Forgery, Falsification of Private Documents Estimated at FCFA 50 Billion

Four senior staff members of Banque Internationale du Cameroun pour l’Epargne et le Crédit-BICEC bank in Douala have been arrested and detained for their alleged involvement in a scam estimated at about FCFA 50 billion. They are accused of embezzlement of billions of CFA francs. According to what we gathered one of the scams centered on carrying out undue expenses. Newspaper reports say about three billion CFA francs (4.5 million euros, $5 million) were made from 2008 and 2012 for furniture.
The four staff members are accused of falsification, connivance in forging private documents, abuse of confidence and aggravated scam but they have not been proven guilty. News reports say regional Central African banking commission COBAC had in March estimated the theft at more than 50 billion CFA francs (76 million euros) between 2003 and 2015. However, BICEC is yet to make an official declaration in relation to the alleged scam. Tongues are still waging as to whether the forgery if true was not masterminded by many workers given that the amount is huge and the length of time especially as controls are supposed to be carried out. This alone #DevelopingStory

When News Breaks Out, We Break In. (The 2014 Bloggies Finalist)

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