Two CACO agents charged and released on bail in 2.2 billion CFA franc embezzlement case
Two agents from the African Consortium for Consulting and Organization CACO, a subsidiary of the Caisse des d茅p么ts et consignations CDC, have been charged by the judge of the third chamber of the Financial Judicial Pool PJF in a case of alleged embezzlement. They were subsequently granted provisional release under judicial supervision, secured by real estate bail. The case originated from a complaint filed on November 18, 2024, by the Director General of CACO regarding payments for invoices that did not correspond to actual services. Investigators from the Criminal Investigations Division DIC uncovered several instances of overbilling. The initial estimated loss of over one billion CFA francs was revised upwards to 2,225,584,769 FCFA after an internal audit. The financial prosecutor, El Hadji Alioune Abdoulaye Sylla, requested a judicial inquiry against the two agents, who are accused of criminal association; forgery and use of forged private commercial or banking documents; embezzlement of public funds; money laundering; and complicity in embezzlement of public funds. The accused presented real estate titles as bail, which were valued to match the 2.2 billion CFA francs in question, allowing them to avoid detention. CACO is described as the technical and consulting engineering firm for the CDC, operating in strategic sectors such as infrastructure, buildings, water, energy, and agriculture. This case is part of a series of financial investigations initiated by the Financial
