VOL. XLV

No 28

15-July-2002

MOROCCO

Moroccan Court Sentences Officials In $17Bn Agricultural FundFraud Case

The Special Court of Justice in Morocco has handed down thefirst sentences in the embezzlement and fraud case at the Moroccan agriculturalcredit fund Caisse Nationalede Credit Agricole (CNCA), which involved the loss ofsome MD179bn ($17bn). In the mid-1990s PriceWaterhouseCoopersdiscovered financial irregularities at CNCA, where agricultural and industrialloans were made without observing...