Morocco’s Office des Changes has launched targeted investigations into suspected large-scale capital flight, following detailed alerts from notaries and real estate agents.
According to sources who spoke to Hespress AR, the alerts pointed to elected officials and property developers allegedly using offshore payments to purchase high-value land and property on the outskirts of Casablanca, notably in Berrechid and Nouaceur.
Investigators are focusing on transactions involving heirs of foreign and Moroccan expatriate landowners. One case involves a local councilor and property developer who reportedly acquired a land parcel in Berrechid from the heir of a French national, settling the full amount in euros outside Morocco.
Another transaction under scrutiny concerns a prominent developer accused of paying over 30 million dirhams abroad, specifically in Spain, for land in a strategic area in Nouaceur, in violation of foreign exchange regulations.
Sources said the probe builds on prior reports from rival real estate firms accusing developers of capital smuggling. Investigators have since uncovered payments processed in France, Spain, Belgium, and the Netherlands, raising questions about potential links to ongoing money laundering inquiries.
Some individuals implicated are also active in currency exchange, payment services, textiles, and apparel, further widening the scope of the investigation.
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