Adophe Mbassi Mbelle was acquitted in the embezzlement case pitting him against the State of Cameroon and National Investment Company (SNI). The judgment was pronounced on Friday December 19, 2013 at the Special Criminal Court in Yaounde. The accused was tried for attempted embezzlement of FCFA 100 million belonging to the State.
Reading the judgment, the presiding judge, Mrs. Justice Yvette Siewe said in 2009, Adolphe Mbassi Mbelle, former Board chair of SOFIREC company, attempted to fraudulently obtain FCFA 100 million from SNI.
During his tenure of office, as Board chair, SNI, former shareholder of SOFRIEC, borrowed FCFA 225 million from SOFIREC to be paid in instalments. SNI had so far paid FCFA 125 million and in December 1990 refused to pay the remaining FCFA 100 million claiming since the company's shares of FCFA 100 million would cover the debt. This was contrary to article 11 of the status of SOFIREC and article 59 of OHADA number II which provides for the sale of shares.
Adolphe Mbassi Mbelle took the matter to the High Court in 2011 asking SNI to pay the FCFA 100 million. In response SNI took the matter to the Special Criminal Court in Yaounde accusing him of attempted embezzlement of the said amount. Adolphe Mbassi Mbelle was acquitted because the crime not established. The SNI has to pay the court FCFA 121,500 for expenditure.
