TCS rejects Fotso's proposal of paying in kind his cash fines

Hearing was held on Wednesday at the Special Criminal Tribunal (TCS) at Yaounde.

The lawyers of the State of Cameroon, those of the liquidated Camair and representatives of the Prosecutor General of TCS rejected the proposal made by Yves Michel Fotso to repay in kind the fine demanded in cash, but later presented a suggestion which is difficult to execute.

As part of the complaint of the liquidator of the defunct national airline of Cameroon, the former director general and manager of Camair reiterated his proposal to sell his residence in Bandjoun, "valued at more than 1.08 billion CFA francs," as reported by the Day newspaper on Thursday.

State lawyers have rejected his proposal, for "cash,” said the newspaper.

Quoted by The Day, Yves Michel Fotso explained that it is not possible to repay in cash, as the TCS ordered "the blocking "of his accounts.

The businessman has proposed to the court to "free his accounts" to recover the sums in cash. Otherwise, he said, he will rely on the Minister of Justice to arbitrate the dispute. The son of billionaire Victor Fotso was sentenced initially in September 2012 to 25 years imprisonment by the High Court of Mfoundi, for the diversion of $ 21 billion FCFA released by Cameroon in 2001 for the purchase of an aircraft designated to assist the President of the Republic. He has appealed to the Supreme Court after the conviction. He was charged for liquidation of the Camair for which he appeared on Wednesday.

Accused of embezzlement of 69 billion CFA francs, Yves Michel Fotso could get the amount reduced to 02 billion CFA francs, through a Memorandum of Understanding with the liquidator Camair.

Yves Michel Fotso has already paid 665 million CFA francs to the Treasury, according to the daily newspaper.

In an interview with Me Eyouck Nyebel on March 13, 2015, counsel for the State of Cameroon spoke of an already refunded amount estimated at 750 million CFA francs.