Business News of Wednesday, 10 August 2016Source: AFPCameroon bank workers accused of massive theftFour employees of a Cameroon bank have been detained on suspicion of stealing millions of euros, sources told AFP on Tuesday. “Undue expenses of three billion CFA francs (4.5 million euros, $5 million) were made from 2008 and 2012 for furniture,” the source cited in one example. The bank, which is 61 percent owned by BPCE, was run by four French nationals in succession at the time of the theft. A BICEC official declined to confirm the figures, but added that the bank had launched a lawsuit after the thefts emerged. The group, which includes a former director-general of the bank who was sacked in May and a former head of accounting, are accused of “embezzlement of several billion CFA francs” over around a decade, the source added.

Source: CameroonWeb August 10, 2016 09:00 UTC