Oussama Nasraoui, owner of Al-Baraka in Tunisia, applied through the broker company, GIFA Holding, for millions of euros worth of loans. When GIFA contacted their correspondent bank in order to approve the loan, Nasraoui’s fraudulent activity was immediately discovered.
In what seemed like a usual loan application, GIFA forwarded Nasraoui’s company documents to the bank. However the illicit documents were later detected by the bank’s fraud department and were reported back to GIFA.
GIFA’s Board of Directors announced that a search is being conducted for Nasraoui, who will be taken under arrest. The company warns all financial industries to take heed of Nasraoui’s criminal activities and refrain from any business relations with him.