The long-running investigation into Côte d’Ivoire’s teacher mutual fund, MUPEMENET-CI, has concluded with serious allegations emerging. Over 5 billion FCFA are reportedly missing, prompting the public prosecutor to take decisive action ahead of an upcoming trial.
Key figures face detention over alleged embezzlement
The Executive Director of MUPEMENET-CI, Agré Lynx Bourgelat, and the Financial Affairs Director, Koné Allagnan, have been placed under arrest. Both were transferred to the Abidjan prison (formerly known as MACA) after the prosecutor’s office completed months of inquiries.
Political figure named in embezzlement scheme
During interrogations, the two accused mutual fund officials implicated Dao Ibrahim Kinan, a businessman and leader of the political party *Les Avertis*. He stands accused of orchestrating a network of shell companies designed to siphon funds from the teachers’ mutual fund. Following his own questioning, he too was detained pending trial.
Next steps in the judicial process
The case is now set to proceed to court, where the accused will face formal charges related to the alleged embezzlement of public and member funds. The investigation has shed light on systemic weaknesses in financial oversight within the mutual fund sector.
