AFG Bank Guinea investigated over $3.5 million disappearance

Guinean prosecutors have opened an investigation into the disappearance of about US$3.5 million that was deposited in AFG Bank Guinea, the former Société Générale Guinea. The money belonged to local businessman Laye Sidibé, who operates under the name Wassaba Sport.

Prosecutor General Falilou Doumbouya visited the bank’s headquarters in Lanséboundji, Matam, to assess the case. Authorities have detained Sidibé’s nephew, who is suspected of colluding with bank employees. Investigators allege that the bank failed to cooperate fully, refusing to provide surveillance footage or clarify the existence of undocumented paperwork that referenced the missing funds. The scandal has raised concerns about public confidence in Guinea’s banking sector.