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Fez fake company network dismantled
A verdict of imprisonment was issued by the T media Court in Fez against one defendant out of two individuals involved in a case organized by a criminal network concerning fraud and deception through the creation of fake companies and their exploitation to target financial institutions, with the use of forgery and its utilization in operations. The court sentenced him to one year in prison and a fine of 500 dirhams, and acquitted the second defendant. The public prosecution had charged the defendants with charges of fraud and breach of trust, while some remain at large. Investigations revealed that the network exploited the transfer of company ownerships to open bank accounts and used them in transactions such as car purchases, by having company owners sign documents without reviewing them, along with monthly deposits and measures to prevent withdrawals. Law enforcement officers managed to dismantle the network before it was referred to the court, and investigations continue to complete files and apprehend the remaining suspects.
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