Morocco Loan Scam: Man Discovers Shell Company in His Name

According to Goud.ma, the complainant allegedly accepted help from his brother-in-law to finance the purchase of a property. The latter allegedly explained to him that transferring a company called "Trans Ghazi" to his name would facilitate obtaining the bank loan.

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The man then opened an account, obtained checkbooks and handed them over to the suspect. He says he then signed several documents in Casablanca without knowing their precise content, first in administrative annexes, then in a bank branch.

Cars purchased with the company account

Each month, 10,000 dirhams were allegedly deposited into the company account. The suspect allegedly asked him not to touch this money, presented as necessary to give activity to the account before the credit application.

After learning that the mortgage had been refused, the man withdrew 30,000 dirhams. This decision allegedly caused a rift with his brother-in-law, before a reconciliation a few months later.

He claims he was then taken to a car dealership and invited to sign new documents. He allegedly later discovered that several cars had been purchased using the Trans Ghazi bank account and a power of attorney authorizing the suspect to manage it.

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Two people, including a woman, were presented to the King’s prosecutor at the court of first instance in Fès. Other suspects are allegedly still being sought in this investigation involving alleged fraud, forgery and use of forged documents.