We, the undersigned are investors in a development in Morocco known as Paradise Golf and Beach Resort, located near Asilah and developed by Atlantic Beach Paradise Resort S.A.R.L.  We are over 800 in number, different nationalities from around the world, many from the U.K. and Ireland.

The majority of us invested in 2006/7 by paying substantial deposits on what was purported to be a luxury development consisting of a hotel, apartments and villas plus a golf course due to complete in 2010. The development has suffered substantial delays and obstructions. Finally after 10 years, an investigation into the corruption and fraudulent activities was carried out, resulting in the arrest of the developer, Larbi Tadlaoui on 26th January 2017 and subsequent jail.  Further charges and hearings are pending. 

Some key points:

£35 million deposits paid with only £12 million accounted for - where is the rest of the money;  an open letter sent to the Prime Minister in July 2016 was never responded to; 6 demonstrations have been held to-date; over 50 articles written in the media both in the UK and internationally; work on site stopped in 2009; recent rumours are that the land was sold to Chinese investors despite the outstanding and ongoing dispute on the land and property owned by investors.

NEXT DEMONSTRATION: 27th March outside Moroccan Embassy, 49 Queen's Gate, London SW7 5NE

Following demonstrations and a finally a meeting with the new Ambassador to London, Mr Abdeslam Aboudrar, we were promised more transparency and a fair outcome for all investors.  We were told that, should the developer be found guilty, the Moroccan Government would liaise with the bank to take over the project and ensure either completion, return of deposits, compensation for the loss and delays that ALL investors have suffered.  Since the sentencing of Larbi Tadlaoui, the Moroccan Embassy have not fulfilled their promise or duty of care.  They have gone silent - they know they are complicit in this scandal.

THIS IS NOT A PRIVATE MATTER.  

Documents were signed by Moroccan Government Ministers; those documents contained false information; audits were not carried out; and conditions not met.  The Government has a duty to protect investors and have neglected that duty.

We urge the Ambassador and His Majesty the King to intervene; to call a halt to the corruption and falsehoods; to end our misery and ensure the Government fulfils its promises to investors.