In Benin, two bosses of an investment firm have been jailed for 10 years each for defrauding more than 150,000 people in a Ponzi scheme.
The case has been described as the biggest financial scandal in Benin’s history and has been compared to the one run by Bernie Madoff in the US.
Guy Aplogan, The chief executive of ICC Services and the director-general, Ludovic Dohou, were convicted with two other colleagues at a special court hearing for economic crimes.
All 4 have already spent more than 8 years in custody.
According to media reports, they were charged with conspiracy, defrauding the public and practicing illegal banking and micro-finance.
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