Moroccan Real Estate Developer Arrested for $1.5 Million Fraud Targeting Expatriates in Nador

His arrest follows a complaint filed against him for fraud and breach of trust. The accused is said to have extorted more than 15 million dirhams from the members of the association, reports Assabah. He promised them villas in the Selouane area. The man was posing as the developer of a villa construction project with areas ranging from 200 to 500 square meters.

The documents in the possession of the victims specify that these subdivisions would be equipped with all the necessary infrastructure: a shopping center, a mosque, a parking lot, a clinic, a hammam and a sports club. However, the property certificate issued by the land registry indicates that the plot of land intended to house the villas belongs to the State.

In addition to the president of the association, another individual is involved in this case. It is a banker. On Wednesday, more than 18 victims organized a gathering in front of the court of first instance, where the main accused is to be referred to the public prosecutor’s office. During this demonstration, they demanded the arrest of the banker who would be his accomplice. Several complaints have been filed against him with both the security services and his hierarchy.