the CEO of the El Ouardi group takes it for fifteen years

The criminal first instance chamber responsible for financial crimes at the Casablanca Court of Appeal sentenced the CEO of the real estate group Bab Darna, Thursday, January 12, 2023, to 15 years in prison.

The case described as the biggest real estate scam in the history of Morocco which has been in the news and in the courts for more than three years of trials and more than 39 hearings aroused controversy and general indignation of public opinion.

The victims of this vast real estate scam, including the Moroccan diaspora which has not escaped this scam, have certainly accepted the criminal verdict, but are asking that the State assume its responsibilities, demanding that their money be returned to them, but also that the entire chain of responsibilities that allowed such a scandal be defined and judged.

That said, the verdict in the form of a heavy sentence from the Casablanca Court of Appeal, at least with regard to the general manager of Bab darna, therefore fell yesterday Thursday, after the deliberations procedure and not without having given the respondents the opportunity to speak one last time. Therefore CEO of the Bab Darna real estate group, Mohamed El Ouardi was sentenced to 15 years in prison by the criminal court of first instance in charge of financial crimes at the Casablanca Court of Appeal.

A sworn notary immersed in the scam at the same time as his friend, reluctantly, took 12 years in prison. He was condemned in the same way as his sponsor El Ouardi for participation in the falsification of official documents, fraud and issuing bad checks. But not only.

As for the others involved, they were sentenced to firm prison terms, ranging from 4 to 8 years in prison. This is particularly the case for the managing director, the commercial director, the administrative and financial director, the technical director, the accountant, etc.

Heavy penalties in relation to the scam, the scam, the falsification, the fraud, the false promises of acquisition of a dozen real estate projects all standings confuseds that ultimately turned out to be virtual or non-existent in space and time.

For information, El Ouardi and his multiple Bab Darna real estate companies that marketed these projects did not own any of the land. More than 1,200 reservists found out the hard way. The amount of damage to be restored to the victims by the Ba darna group is estimated at more than 400 million dirhams.

For information, El Ouardi is also suspected of having transferred the funds of his victims to Panama. The funds were reportedly used in a Panamanian investment group called “BOD CAPITAL”, headquartered in Panama. The National Brigade of the Judicial Police (NPJ) of Casablanca had been in charge of the investigation.

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