Bank of Development Director accused of corruption and theft

Director accused of scrapping assets worth hundreds of thousands for his own benefit

The Director reportedly gifted one of the scrapped assets to the Treasury Department. [Photo: Libyan Express]
A source for Ean Libya news outlet reported that the National Anti-Corruption Authority received a complaint against the Director of the Bank of Development accusing him of scrapping several bank assets for his own benefit and financial gain.

The source indicated that the Director conducted illegal activities without the approval of the board of directors.

The source added that the Director was one of the beneficiaries of the scrapping of 21 cars, including two 2010 Toyota Land Cruisers in near perfect condition that were stored but were not put to use.

“Where was the head of the bank’s board (Deputy-Secretary of Planning) During these lawless actions?” The source asked.

The cars were inaccurately valued at 22 thousand Libyan dinars each for the Director when they’re real value exceeded that of 200 thousand dinars. One car was acquired by the director himself and another was gifted to the Treasury Department, in exchange for what remains unclear.

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