Morocco Real Estate Scam: Developer Flees After Selling Non-Existent Plots to Prominent Buyers

According to Assabah, the real estate developer sold plots of land located in an upscale neighborhood in the city center to his clients, including senior justice officials, university professors, merchants and investors. The latter later discovered that the real estate acquired had already been transferred to another real estate developer by a bank after a preventive seizure.

The fraudulent promoter fled with the clients’ money, some of whom had paid him more than 500,000 dirhams, representing the price of a plot of land, and others a little more than half of this amount. The victims filed a complaint with the King’s Prosecutor against the real estate developer, who is the subject of an arrest warrant and a ban on leaving the territory.

In total, the scammer, who is actively being sought, managed to collect more than 10 million dirhams from his victims. Several complaints have also been filed against him for issuing bad checks.