Moroccan Authorities Dismantle International Money Laundering Ring

The preliminary investigation made it possible to identify an international criminal network, led by Moroccans in charge of diverting dirty money from fraudulent transactions to Morocco. Once there, it is laundered by intermediaries through real estate investments or luxury means of transport. The latest operation concerned the acquisition of a luxurious palace, a yacht, as well as several homes and cafes in the north of the country.

According to the daily Al Massae, most of the intermediaries run bankrupt companies and offer their services through fictitious commercial transactions, in return for a predetermined commission.

The agreement signed with the European Union countries, within the framework of customs cooperation, allowed the control services on both sides to identify several falsified invoices and import declarations issued by suspicious Moroccan companies.

According to the investigation reports in Europe, relayed by Al Massae, the incriminated entrepreneurs are Moroccans with dual nationality, who operate in the cities of Sebta and Mellilia. Spanish and Turkish nationals are also involved in these money laundering operations, through the exploitation of real estate or financial companies.