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  • Mauritanian police have arrested a central bank employee who is accused of embezzling over 1 million euros from the West African state's coffers, officials said on Tuesday. The central bank said in a statement released on Sunday that it had discovered that some 935,000 euros ($1 million) and some $358,000 (493,000 euros) had gone missing. It added that a bank official had taken responsibility. A police official told AFP on Tuesday that six people had been arrested over the affair, including a central bank employee. Neither Mauritania's police nor its central bank offered details on how the embezzlement scheme operated. But the bank, in its statement, admitted to "weaknesses" in its internal controls and pledged to tighten security. Mauritania is a poor West African nation of some four million people, and ranks 161 out of 190 in the United Nations' Human Development Index -- a reflection of global living standards. hos-lal/eml/jh
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  • Mauritania central bank reports embezzlement of over 1 mn euro
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