Crypto

Bitcoin scam: Marrakech family deprived of nearly a million euros sues, H24info

This is the first time in the country. Justice has been restored in the context of the cryptocurrency scam case. One of the victims, who lives in Marrakech and lost nearly a million euros, told H24 Info…

A 22-year-old boy from a large family in the city of Ocher is accused of cryptocurrency fraud, breach of trust and the creation of an organized gang. The complaint was filed by Michel*, who is not the only victim in this case.

The complaint, a copy of which H24 Info has, was filed at the end of June this year. It targets the young man and two of his loved ones, his father and brother. According to the report, the young man, who knows his intended victims well, “presented himself as a specialist in profitable and safe financial investments.” “Thanks to this closeness and this acquired trust, (he) managed to convince them to entrust him with all their savings for financial investments,” the complaint continues, referring to investments in bitcoin.

According to his victims, the young man devised a “diabolical plan” because shortly afterwards he would “inform his clients that they lost all their savings due to a botched computer maneuver.”

Michel and his family entrusted the total amount of 884,400 euros to Yasina*, who is now accused of fraud.

After settling in Morocco for over 12 years, the Frenchman explains that he knew the young man through his daughter, who interacted with him at an American school in Marrakech. They were part of a “close-knit group of friends, the parents know each other and see each other often,” he explains.

After receiving the bachelor’s degree, “the group will disperse to the four corners of the world, but they will remain in touch and meet as soon as the opportunity presents itself,” continues Michel.

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At the start of 2020, a young student brags to his group of friends about the significant profits he is making from his bitcoin investment. “He managed to lure everyone with seductive speeches, talking about big profits in a very short time,” recalls our interlocutor.

By convincing her friends to invest a few modest sums, Yasina will be able to convince her parents that they can double their bet, according to our interlocutor. Yasin’s main argument throughout this time will be that the capital invested is guaranteed, a promise written in black and white on the agreements he will offer his intended victims.

Almost a million euros “evaporated”

Michelle, his granddaughter, his eldest daughter, his fiancée, and also his mother-in-law will gradually invest all their savings. They won’t be the only ones. Three other Moroccan families, as well as another French family whose father is a wealthy industrialist, will also put astronomical sums into the hands of the young Yasin, who is only 22 years old.

“He constantly emphasized that our capital is guaranteed,” says Michel. “Parents posted an average of 500,000 to 2 million dirhams. As for us, we started with small placements from March 2021,” he continues.

“When we borrowed 200,000 dirhams, he soon told us that we had won 50,000 dirhams. Therefore, the bait was unusual. This went on all summer. Arriving in the autumn, he began to ask us for much more money with much larger investments, ”explains our interlocutor.

Since November, Yasin has been sending out contracts to his clients, telling them that from now on they will receive 12% of their interest every month. The transfers do happen over the next few months, but in February, Michel gets a call from another client who tells him, “We’ve got a big problem.”

“We returned to Morocco at the end of February. I waited for my interests, which did not come. I have sent several messages but no response. We tried to call Yasina* directly, but, of course, no one answered,” says Michel.

Read also: What is bitcoin, the queen of cryptocurrencies?

It was then that father and older brother Yassin agreed to meet Michel at a restaurant in the heart of Jamea el Fna. “When we come to a meeting, they tell my wife and I to turn off our phones, and then they tell us: “We lost everything.” We quickly understood what he was telling us about his son. First, he told us that he was going to pay us compensation, but we were not allowed to see or talk to his son.”

“Then he offered to compensate us up to 10%. Madness. After several exchanges, they offer us 30% of the total amount he stole from us. He told us that he couldn’t do better, because he only had this, but accepting this offer was obviously out of the question, since his son constantly told us that our capital was guaranteed, our interlocutor continues.

The alleged victims then decide to file a complaint just before the month of Ramadan.

We contacted Michel’s lawyer, Mr. Mohamed Nakhli, who informed us that some of the victims had made arrangements with those he accused, but his client was determined to go to court for compensation.

Together with the editors of H24Info, the opposing side declined to comment.

*Names and surnames have been changed.

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