Moroccan Expats Among Hundreds Scammed in $5 Million Real Estate Fraud

The victims of the con man disguised as an investor are citizens of the city of Safi and Moroccans residing abroad (MRE). According to the daily Al Massae, they paid advances representing 30% to 100% of the purchase price of the real estate product, before the development work was interrupted in September 2017.

Several protest movements have been organized by the victims in front of the real estate operator’s office without much result. The real estate developer and the marketing manager, who received cash advances from some clients, seem to have both vanished.

The Judicial Police, according to the newspaper, heard the victims and drew up dozens of reports of their complaints. But the promoter, at the height of his ruse, hastened to liquidate his company and sell what was left of it to a Moroccan.

Indeed, after collecting advances of tens of millions of dirhams and issuing bounced checks, the latter fled to an unknown destination, according to the newspaper.