Benin: an intern diverts 53 million through fake checks in a microfinance

He is accused of embezzling nearly 53 million CFA francs through 44 falsified checks, according to revelations reported by Banouto media. The accused, who appeared on Tuesday, June 17, 2025, before the special jurisdiction, is facing serious charges: false certificates, theft of cash, and money laundering.

According to the statements of the mutual fund’s treasurer, the defendant allegedly took advantage of his access to internal documents to produce false checks. These checks, endorsed in the name of fictitious or real clients, allowed him to withdraw amounts ranging from 500,000 to 2,000,000 FCFA from a partner bank, between 2021 and 2024.

According to the prosecution, he reproduced the official signatures of the president, the treasurer, and the endorser on the falsified checks. Out of the 44 checks used, 41 bore different names, a technique apparently designed to escape vigilance.

At the stand, the accused admitted the facts. He explained that he used the mutual fund’s checkbooks for personal purposes, presenting the bank tellers with an ID of the supposed endorser, along with his own. Upon questioning, he declared owning a building site and a vehicle.

The tellers who handled the operations were heard during the trial. All claim not to have detected any anomalies on the signatures appearing on the checks. They specify that according to internal procedures, only the ID of the beneficiary is required to validate the encashment. Furthermore, the defendant, a regular at the establishment, didn’t seem like an imposter to the staff.

Mutual fund and bank blame each other