Moroccan Real Estate Scam Defrauds Over 200 Expatriates in Multimillion-Dirham Scheme

The "Bab Darna" affair has been one of the biggest real estate scandals to hit the kingdom, due to its scale. Indeed, nearly 800 people have been scammed and the diverted money is estimated at millions of dirhams over the past five years.

The mastermind of this real estate fraud, Mohamed El Ouardi, president of the incriminated real estate company "Bab Darna", was arrested at Mohammed V airport in Casablanca on November 21, as he was about to leave the territory. Out of the 800 victims, "More than 200 complaints have been filed. Between 100 and 200 Moroccans residing abroad (MREs) are involved in the case," said Me El Ajouti to TelQuel.

According to an MRE quoted by the weekly, he only realized the scam with the arrest of the president of the real estate group. "I saw the ads on TV. Honestly, the fact that it was broadcast on a major national channel was already a guarantee of trust in my eyes," he explains.

"I came to their office, they showed me what they had to offer. I saw a project that interested me: an apartment not far from the Sidi Messaoud boulevard," recounts the witness who had to go to Casablanca. This is followed by the payment of the apartment, with the conditions of the company. "I had to pay 33% of the amount in question for the reservation. Then, we were told to pay the other 33% upon delivery of the keys, then the remaining 33% to be settled within five years after delivery of the keys," he specifies. The rest, we know. This fraud has cost him 200,000 dirhams. "When I talk to the other victims, I tell myself that in my misfortune, I was lucky. Some have invested much larger sums."

Today, the victims are relying on justice. It is now necessary to follow the recovery of the investors’ losses, estimates Me Mourad El Ajouti who concludes: "The priority for the people now is to recover their money. They want to know if any assets can be seized to obtain reimbursement of their advances."