Moroccan Telecom Tycoon Karim Zaz Released After 5-Year Prison Term

Founder of Wana Corporate, the current Inwi, Karim Zaz had created the Moroccan subsidiary following a partnership with Wanadoo, the multimedia and internet branch of France Télécom. The CEO spent more than ten years at the head of Wana Corporate.

Having been subject to a writ of execution for a fine of 470 million dirhams in favor of the Foreign Exchange Office, Karim Zaz was accused of several charges: Formation of a criminal gang, diversion of international telephone traffic, forgery and use of forgeries, money laundering and breach of trust.

During the trial, the civil parties, namely Maroc Telecom, Méditel and Wana, had claimed nearly 600 million DH in damages. The Moroccan operators were suing Zaz and his accomplices for telephone fraud, the losses of which are around 4 billion DH.

Yesterday, Karim Zaz was able to spend his first night next to his loved ones.