A long-awaited trial opened in Benin on Thursday into an alleged Ponzi scheme described as the biggest financial scandal in the country’s history.
Twenty people appeared before an Asize Court in Cotonou for conspiracy, defrauding the public and practising illegal banking.
The case first emerged in 2010 when a local firm known as ICC Services and others were accused of defrauding people of their life savings through a fraudulent scheme.
Benin’s government in 2010 launched a compensation scheme…
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