Home > Keywords > Economy > Money laundering

Money laundering

Articles

  • Belgian Authorities Probe Moroccan ’Mocro Mafia’ in €367 Million Drug Money Laundering Case
    15 November 2020, by Sylvanus

    In Brussels, the federal prosecutor’s office is investigating the Mocro mafia suspected of having laundered 367 million euros. This sum of money transited through Belgium in a drug case.
    The Belgian justice system has issued three international arrest warrants against Moroccan, Spanish-Moroccan and Pakistani nationals, in this money laundering case, reports La Dernière Heure. Judge Michel Claise is in charge of this case for which the federal prosecutor’s office wants to send twenty (…)

  • Former Real Estate Agent Sentenced to 4 Years for €546,000 Fraud Scheme
    4 February, by Sylvanus

    Accused of having defrauded his clients for a total amount of 546,000 euros, the Moroccan Soufyène Mazouz, former real estate agent in Persan, and also the former boss of the Nestenn agency in Persan, was convicted of breach of trust and money laundering.
    The verdict was handed down on Wednesday, January 29, 2025. Absent from his trial, Soufyène Mazouz was sentenced to four years in prison for fraud. He is accused of having misappropriated security deposits during real estate (…)

  • Morocco Tightens Currency Controls: Travelers Must Declare Funds Over 100,000 Dirhams
    28 April 2022, by Ginette

    The new circular from the Customs and Indirect Taxes Administration (ADII) follows the amendment retained in the 2022 Finance Act, relating to Article 66 bis of the Customs and Indirect Taxes Code.
    The government had introduced it during the debates on the 2022 Finance Bill in the House of Advisors. This amendment makes it mandatory for any traveler to declare commercial effects, means of payment and financial instruments denominated in foreign currency, upon entry or exit from the (…)

  • Morocco Launches Tax Probe into Expat Real Estate Investments Amid Money Laundering Concerns
    12 April, by Prince

    Based on suspicions of money laundering from real estate professionals, the control services of the National Financial Intelligence Authority (ANRF) have launched investigations in the cities of Casablanca and Marrakech concerning certain real estate projects of the "office space" type.
    These investigations focus on investors, including Moroccans residing abroad (MRE), who have no specific training or experience in the real estate or construction sector, and whose ability to mobilize (…)

  • French Customs Blacklists Moroccan Officials in Smuggling Probe at Sète Port
    16 February 2021, by Kamal

    The French authorities have just issued a blacklist of Moroccan businessmen and politicians, accused of trafficking and money laundering in Morocco, via the port of Sète.
    The case broke out following the arrest by the customs services of Sète of senior officials, holding dual French-Moroccan nationality. The suspects, originally from northern Morocco, were in the habit of smuggling valuable jewelry and large sums of foreign currency.
    Responding to a request from the Association of the (…)

  • Yvelines Market Racketeering Scheme: 8 Face Trial for Extortion and Money Laundering
    27 November 2022, by Sylvanus

    Eight individuals will appear in court in Versailles on Monday, November 28, notably for money laundering from a large-scale racketeering scheme on one of the largest markets in the Paris region, in Mantes-la-Jolie.
    Aged 32 to 44, these defendants - an elected official and four market stall holders - are accused of having set up, since 2013, a system based on the demand for systematic tips in exchange for a spot on the vast market in the working-class neighborhood of Val-Fourré, about 60 (…)

  • Gibraltar-Based Moroccan on Trial for International Drug Money Laundering Network
    14 October 2024, by Sylvanus

    The trial of a Moroccan residing in Gibraltar, the head of an international network specialized in money laundering from international drug trafficking and its members, also of Moroccan nationality, continues before the Ceuta court.
    Since October 8, 2024, the members of the network have appeared before the Ceuta court of justice. The network is involved in the illicit transfer of money from international drug trafficking via pleasure boats belonging to famous Moroccan personalities, (…)

  • British-Moroccan Couple Arrested at Spanish Port with €100,000 in Attempted Bribery Scheme
    12 March 2020, by Kamal

    A British national and his Moroccan-born wife, apparently in a hurry to make the crossing, tried to bribe a Spanish police officer to avoid the control at the port of Tarifa.
    At the request of the border police officer, the man and his wife, aged 47 and 49 respectively, handed over their travel documents, not forgetting to slip a large sum of money into their passports.
    Taken aback, and especially intrigued by their nervous behavior, the agent called on his colleagues to carry out a (…)

  • Morocco Strengthens Anti-Money Laundering Measures to Combat Financial Crime
    24 August 2019, by Bladi.net
  • French Lawmaker Sentenced for Misuse of Public Funds, Faces Calls to Resign
    8 August 2019, by Kamal

    On Tuesday, August 6, 2019, Ille-et-Vilaine deputy Mustapha Laabid, of Moroccan origin, was sentenced by the Rennes Criminal Court to 6 months in prison with probation, 3 years of ineligibility and a fine of 10,000 euros.
    Prosecuted for "breach of trust", the elected official is suspected of having used the funds of a professional integration association, from public subsidies, for personal purposes. At the age of 50, he was its president before his election in 2017.
    The politician, who (…)