Moroccan Tycoon in Switzerland Faces Drug Money Laundering Probe

The Swiss authorities want to understand how a small food products merchant can accumulate such a large fortune in such a short time, reports Assabah, specifying that the Moroccan businessman is currently the subject of a judicial investigation for money laundering from cocaine trafficking.

The MRE, originally from Nador, has not yet been able to explain to the Swiss authorities the origin of his fortune. In all the documents collected by the investigators, he is presented as a simple food products merchant. However, his home, which was searched as part of this investigation, is located in the upscale and tourist area of Neuchâtel where most of the country’s large fortunes reside.

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The Moroccan’s fortune has attracted the attention of the Swiss authorities due to the large checks he has been issuing for some time and his regular trips to Canada and the United States, countries where he sometimes stays for an entire year. He is also suspected of fraud in his dealings with his partners, including a Pole and a Moroccan, and is said to have swindled other people from whom he stole nearly 1.5 million euros.

According to the investigators, the Moroccan businessman would have opened several bank accounts that he would use for his money laundering operations in complete secrecy. The wealthy MRE is said to have deposited in one year, in several installments, an amount considered "colossal" by the Swiss banking institutions. There are therefore strong suspicions of drug trafficking against him.