Crypto

More than 800,000 euros stolen from a French family in Morocco

The bitcoin scam started in 2020. The alleged scammer is Yassin*, a 22-year-old young man from a large family who communicated with the daughter of Michel*, a Frenchman who lived in Morocco for 12 years, at the American School of Marrakech. Both were part of a “close-knit group of friends, the parents know each other and see each other often.” Years later, he “established himself as a specialist in profitable and safe financial investments.” At first, he managed to convince his old friends to invest a few small sums. After that, it’s the parents’ turn to double down.

Read: Morocco: Police harass cryptocurrency networks, multiple arrests

Michelle, his granddaughter, his eldest daughter, her fiancé, and also her mother-in-law put in all their savings. Another French family, whose father is a wealthy industrialist, along with three other Moroccan families, have invested huge sums of money in bitcoin. “When we took 200,000 DH, shortly after that he told us that we won at 50,000 DH. Therefore, the bait was unusual. This went on all summer. When he arrived in the autumn, he began to ask us for much more money with much more investment,” Michel explains to H24info.

Read: Belgium: Trial of Moroccan mastermind behind scam group called ‘SMS Fishing’

To refine his plan, Yassin sent them contracts in November. He made them believe that they would earn 12% of their interest every month. Transfers are made over the next few months. Against all odds, in February, Michel receives a call from another client. “We have a big problem,” she said. “We returned to Morocco at the end of February. I waited for my interests, which did not come. I sent several messages but no response. We tried to call Yasina* directly, but, of course, there was no answer,” says Michel.

Read: Casablanca: Bitcoin, sequestration and extortion of 2 million dirhams

Father Yasin contacts him. Michel, accompanied by his wife, meets him at a restaurant in the heart of Jamea El Fna. “We lost everything,” explains the father of the alleged fraudster. He promises to compensate him up to 30%. An unsatisfactory scheme for a Frenchman, since “his son constantly told us that our capital was guaranteed.” At the end of June, he filed a fraud complaint. Michel and his relatives were released from 884,400 euros.


* Suggested names

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