Alamine Ousmane Mey named in embezzlement case

Alamine Mey Minister of Finance

Alamine Mey Minister of Finance

The current Minister of Finance (Minfi), Alamine Ousmane Mey has been mentioned as a culprit in the misappropriation of public funds estimated at 1, 738 billion CFA francs at the time he was the Director general of Afriland First Bank a financial institution. This was made public on Monday December 1, 2014.

The case revolves around funds allocated to the project of strengthening initiatives for community management of forest and wildlife resources (Rigc).

In 2005, the State opened an account at Afriland First Bank, in which it paid the sum of 3 billion CFA Franc.

According to the Essigan newspaper, which puts the case in the public square, this operation followed a tripartite convention between the Ministry of forestry and Wild life (Minfof), Minfi and the Camdev Corporation; a convention which binds the three entities for the management of the project.

In 2010, Alamine Ousmane Mey was Managing Director of the Bank even when Afriland First Bank debited from the account the sum of 1,738 billion francs CFA for its own benefit. It was according to the Bank, partially covering "the commitments" made at Kaptue Tagne, private transaction responsible for society Camdev and Co manager of Regic project.

This transaction consisted of getting an overdraft from the bank in favour of his client Camdev Sarl for the realization of contracts in Camtel.

To do this, patrons of the Bank had "fraudulently" carried out the removal of funds from the Rigc project of 1,700 billion FCFA, using four DAT spread over a 3 years period. These DAT had generated 38,000,000 interest. With this interest income generated plus debt of 1,738 billion CFA francs as the Bank believed, could wrest with the State to cover the insolvency of his client.

Moreover, accusations of "forgery", marked this folder. It was revealed that signatures were falsified, including that of Elvis Ngollè Ngolle Minister of forestry and wildlife of the time.

No information noted that the signature Alamine Ousmane Mey was also spoofed. However, DG, (the current Minfi) put his signature on documents that led to the diversion of 1,738 billion CFA francs.

In this case, Alamine Ousmane Mey was implicated along side prominent executives of Afriland First Bank; Ngon Hervé Stephani, Dadjeu Kengne Olivier, Foti Dzudie Gilles.

Cued from Cameroonweb.com

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