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Misappropriation of credits at COWEC-Bénin: firm prison sentences required against three defendants

13/08/2025
Source : ORISHAS FINANCE
Categories: Compliance

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Last Thursday, the Public Prosecutor's Office of the Court for the Suppression of Economic Offences and Terrorism (CRIET) requested firm prison sentences against three defendants.

Two of the three defendants are branch managers of the Wesleyan Savings and Credit Cooperative (COWEC-Bénin). According to information from Batouno, a news site, they are being prosecuted for breach of trust, complicity and money laundering in a case of false loan files that resulted in the damage of several tens of millions of CFA

francs.

36 million were claimed for the first branch manager, 29 million for the second. The defense of the mutual insurance company, represented by its lawyer, also requested 10 million CFA francs in damages for the

damage suffered.

Among the defendants is also a client, tried without a warrant of arrest, who presents herself as a victim. She claims to have been deceived by the head of the Cotonou agency, who allegedly presented himself as an army officer

.
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