A shocking case of alleged stock scam has come to light in Morocco, where a regional director of a company in the city of Asfi lost over $16 million. According to reports, the victim, identified as Mohamed Mziayani, was lured into investing in a fake online stock trading platform called Dirovex by a close relative. The platform claimed to specialize in stock trading, similar to the national stock exchange.
Mziayani, who has experience in trading and provides consulting services in this field, was convinced to join a WhatsApp group called 603ALLIANCE DECISIVE YEM, which had 115 members. He was then contacted by a suspect, Youssef A, who guided him through the process of downloading the Dirovex trading application and investing in stocks. On September 15, Mziayani purchased shares of TSS GROUP for 2030 dirhams and transferred the amount to a bank account opened at Commerciale Bank.
Over the next few days, Mziayani continued to invest in the platform, purchasing shares under the name M-INVEST AI for a total of 100,000 dirhams. He transferred the funds to two separate bank accounts at Commerciale Bank. On September 23, 2026, he withdrew 60,000 dirhams from the platform to his bank account at the General Company. However, he continued to invest in the platform, transferring funds to three bank accounts at Commerciale Bank, until he realized he had lost a total of 162,000 dirhams.
The alleged scam was uncovered by the Economic and Financial Police Brigade of the Judicial Police Department in the city of Fes. The police were able to dismantle the criminal network and arrest three suspects in the city of Sefrou and a fourth suspect in Fes. The investigation is ongoing to apprehend five additional suspects who have been identified.
According to reports, the suspects operated a fake online stock trading platform, Dirovex, which claimed to offer investment opportunities in stocks. The platform was promoted through social media and messaging applications, targeting unsuspecting victims. The police investigation revealed that the suspects used a complex network of bank accounts to launder the money.
The case highlights the risks associated with online investment platforms and the need for caution when investing in unfamiliar schemes. The Moroccan authorities have warned investors to be vigilant and to verify the authenticity of investment platforms before investing. The investigation is ongoing, and further details are expected to emerge as the case unfolds.
The alleged scam has left Mziayani with significant financial losses, and he is now cooperating with the authorities to bring the suspects to justice. The case serves as a reminder of the importance of due diligence and caution when investing in online platforms.
Key points
- A Moroccan regional director lost over $16 million in an alleged stock scam.
- The scam involved a fake online stock trading platform called Dirovex.
- The police have arrested four suspects and are investigating five others.
