A 175-million-euro settlement ends the Belgian dispute involving BCP and Chaabi Bank
After six years of investigation, two banking institutions linked to Morocco have reached a record financial settlement with Belgian justice.
A 175-million-euro settlement ends the Belgian dispute involving BCP and Chaabi Bank
The Brussels court confirmed on 8 June an exceptional criminal settlement. Banque Centrale Populaire and its French subsidiary Banque Chaabi du Maroc have committed to paying 175 million euros to the Belgian authorities to end a procedure initiated six years ago.
The investigations began with raids carried out in the cities of Brussels and Antwerp. Since then, the two financial institutions have been facing a case of rare complexity on Belgian soil.
The agreement validated by the court constitutes an extended criminal transaction, negotiated with the prosecutor's office. This formula makes it possible to avoid a traditional trial whilst imposing a financial penalty. The sum paid ranks among the highest ever required under such a judicial mechanism involving banks from third countries.
The two institutions can now close this judicial chapter which has kept them under investigation since 2019.
Source: Telquel.ma
Source: Google News MA — Crime (fr)