General Manager of Sahara Bank, Abu Bakr Al-Wadani, is still held in custody pending the completion of investigation into the squandering of LYD 100 million from the bank, Head of the Investigations Bureau at Libya’s Attorney General’s Office, Siddiq Al-Sour, told 218 News on Friday.
He refuted media reports that Al-Wadani was released on bail, stressing that the investigation is ongoing.
Al-Sour has issued last weeek an arrest warrant for Al-Wadani suspected of involvement in squandering LYD 100 million.
Investigations over two months showed that Al-Wadani and a number of the bank’s employees, including an employee who fled abroad, were involved in squandering public money.
The case dates back to 2016, when LYD 100 million were squandered in the bank’s El-Maya branch through manipulating Sukuk issuance.
Al-Sour explained that the arrest warrants are part of the ongoing investigations into violations against public interests.
