Tangier: MREs involved in suspicious real estate transactions

Based on information provided by the control services of the General Directorate of Taxes, inspectors from the National Financial Intelligence Authority (ANRF) are carrying out investigations into money laundering operations organized in real estate located in cities in the north of the kingdom, mainly in Tangier. Moroccans who also have Spanish, Dutch and Belgian nationalities are among the supposed buyers.

Investigations reveal that the suspects had deposited amounts reaching 80% of the value of apartments in residences under construction, through reservation contracts, reports Hespress. But the work undertaken as part of these projects was suspended for years, without them being completed or housing conformity certificates (residential permits) being issued to the supposed beneficiaries. In addition to real estate, real estate developers invested in other activities such as import-export, agriculture, among others.