Massive Pyramid Scheme in Morocco Defrauds Hundreds, Including Expatriates

A large-scale pyramid selling fraud in Tangier. Following the filing of 700 complaints with the justice system, the investigating judge of the court of first instance in Tangier is conducting an investigation into the "Al Khair Group" case that has been shaking the city of Tangier for the past few days. In total, 11 people are being prosecuted, including 9 women and 2 men. Others are still at large and are the subject of national arrest warrants.

The plaintiffs accuse the perpetrators of this scam of involving them with new victims, including relatives and acquaintances they convinced to participate in an idea that seduced many of them and prompted them to invest significant sums in the hope of making gains. In reality, the group has managed to convince the victims to invest in fictitious projects for six years. It had promised them to double the invested amounts after a certain time thanks to investments in profitable sectors. The case will eventually be exposed after the group found itself unable to pay interest to its victims.

The victims of this fraud are from Tangier and other Moroccan cities. Among them are also many Moroccans residing abroad (MREs), particularly from the community residing in Spain and other European countries. According to sources, the damage would amount to several tens of millions of dirhams, Hespress reports, also noting that complaints continue to pour in regarding this case.