Investigation into the suspicion of a Moroccan businessman’s involvement in large-scale suspicious money laundering operations in luxury real estate projects.

Agadir24

An investigation has been opened into the suspicion of a Moroccan businessman’s involvement in large-scale money laundering operations in luxury real estate projects.

Media sources reported that the competent financial services have begun investigations into the suspicion of the involvement of a Moroccan businessman residing abroad in extensive money laundering operations of suspicious origin in luxury real estate projects in some cities of the Kingdom.

This, and these facts were investigated due to an attempt to make bank transfers from the Pacific island of Nauru, which is considered a tax haven. The person concerned tried to transfer one million dollars from a bank in Nauru, in order to invest it in a tourism project in northern Morocco.

The bank manager who handled the transaction did not trust the source of the money and began an investigation. It turned out that the recipient of the money planned to invest with a foreign partner in a project on the Moroccan Mediterranean coast.

Although the man provided the necessary documents for the tourism project, this was not enough to reassure the manager of the bank agency. He reported the deal to the National Financial Information Authority, as required by law.

The aforementioned authority found that there was no clear business relationship between the recipient of the funds and their sender. In addition, it turned out that the sender was linked to a company that had previously been involved in a money laundering case in the Moroccan real estate sector. This reinforced suspicions regarding money laundering.