CBAO-Attijariwafa Bank employee arrested for multi-million CFA franc fraud
via SeneNews2 min read
Hady Ndongo, a 38-year-old account manager at CBAO-Attijariwafa Bank's Ngor branch, has been arrested by the Special Cybersecurity Division and referred to the prosecutor's office for alleged financial crimes. Investigations revealed a sophisticated scheme where Ndongo is accused of embezzling tens of millions of CFA francs from his employer. He allegedly used his position to create fictitious foreign currency transactions, making false purchases of US dollars and euros from auxiliary cash accounts. These operations, without real counterparts, allowed him to appropriate the corresponding amounts in local currency. To avoid suspicion, he reportedly conducted inverse fictitious sales of currency to non-existent clients and used other client accounts to mask accounting discrepancies. Bank auditors also found that Ndongo regularly made fictitious adjustments to currency positions to maintain an apparent consistency in the accounts, a strategy that allegedly allowed him to evade internal controls for several months. He also attempted to destroy compromising accounting documents, some of which were recovered from a trash can by investigators from the CBAO's Permanent Control Directorate. The identified financial damage is estimated at 43,146,169 CFA francs, in addition to 55,700 US dollars, 17,000 euros, and 2,342,640 CFA francs taken from a client's account. Ndongo admitted to the allegations, citing a 7 million CFA franc debt to a friend in Spain, which originated from a cash def
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