English
Unless the Criminal Code of Ethiopia provides for more
severe punishment, a debtor and persons who, directly or
indirectly, de jure or de facto, have managed a business
organization and persons who have served as lawful
representatives of the managers shall, upon conviction, be
punishable with simple imprisonment ranging from six
months to three years and a fine of five thousand to fifty
thousand Ethiopian Birr where they:
1/ embezzled or concealed all or part of the assets of a
business organization;
2/ fraudulently declared themselves liable for sums not
owed either in his accounting records or by virtue of
the law or commitments lawfully entered;
3/ fraudulently increased the bankrupt debtor’s liabilities;
4/ kept fictitious books of accounts or destroyed
accounting documents and records belonging to the
bankrupt debtor;
5/ kept accounts that are manifestly incomplete or
irregular.
