500 investors supporting the release of Larbi Tadlaoui.

After receiving numerous emails from various alleged investor in the real state Project “Atlantic Beach Paradise resort”, where each sender was telling a different story, we decided to send a reporter to Morocco, in Tangier particularly to `investigate ‘the veracity of what has been published in various media.

First of all we would like to express our support to all the parties involved in this `problematic´.

We feel the distress of the investors but also of the core management of the Atlantic Beach Paradise Resort project.

We don’t have to remind that more than 800 investors engaged in a commercial endeavour in Morocco are today unhappy with the government on how this matter is being treated.

After a demonstration before the Moroccan Embassy in London of their anger toward the constructor accusing a delay in delivering the properties due to the Government’s infrastructure’s developers (Amendis & Veolia) breach of contracts, the more than 800 investors are today in wonder and asking the government transparency on the investigation and demand answers on why Mr Larbi Tadlaoui, director of the project has been detained in Tangier’s prison and how his arrest is helping them getting what they paid for.

Since Mr Tadlaoui has been incarcerated, the project accuses an incomprehensible idle state despite the healthy financial expertise ordered by the court.

No one seems to have a straight answer on why Mr Tadlaoui is being depraved of his human rights and liberty even thought his project has been delayed, this doesn’t constitute grounds for his arrest, unless the ministers are trying to use Mr Taldouai as an `scapegoat´ , declared his lawyers to The Maghreb Times.

As of yesterday, we have been showed documents of 500 investors supporting the release of Mr Tadlaoui from Tangier’s prison and encouraging the Moroccan government to prosecute Amendis & Veolia for their irresponsible behavior. Mr Tadlaoui always faced the investors and never avoided any meeting with us, said the represent of the 500 investors, there for we are asking his Majesty the King Mohammed VI to kindly revise this case having in mind that a man’s life is in jeopardy when Mr Tadlaoui has showed the court that the accounts are in excellent standing and ready to start delivering the first units within 6 months of his release.

500 signatures have been filed to Tangier’s court to support Mr Tadlaoui’s Release, we hope for the sake of everybody that soon, very soon everything will go back to normal, Amendis & Veolia will decide to unblock the situation and more investors will come to Morocco  to enjoy the fantastic life style Morocco is so proud to promote abroad.

 

The Maghreb Times.

 

 

 

 

 

 

 

 

 

 

40 COMMENTS

  1. HI MEHDYA,
    THE DEVELOPER SIGNED AGREEMENTS WITH BOTH AMENDIAS AND VEOLIA MANY YEARS BEFORE 2012 WHICH THEY DID NOT HONOUR! IF THEY HAD WE WOULD BE ENJOYING OUR PROPERTIES NOW. THE BIT I HAVE DIFFICULTY UNDERSTANDING IS WHY DID THE GOVERNMENT WHO PROMOTED THE DEVELOPMENT AS A SECURE INVESTMENT IN 2005 & 2006 DID NOTHING WHEN AMENDIAS AND VEOLIA DID NOT COMPLY WITH THEIR CONTRACTS.
    I BELIEVE THAT BANQUE POPULAIRE WILL ONLY ACCEPT THE SIGNATURE OF THE ACCOUNT HOLDER. THIS IS NORMAL PRACTICE IN THE BUSINESS WORLD, AND POWER OF ATTORNEY FROM THE GUARANTOR IN JAIL WOULD NOT BE ACCEPTED BY ANY BANK. THE CORE TEAM HAD IT CONFIRMED FROM THE EMBASSY THAT FINANCE IS AVAILABLE TO PARADISE GOLF AND BEACH RESORT & LARBI TADLAOUI. POINT e) IS CORRECT “ONLY LARBI TADLAOUI CAN DRAW DOWN ON THE LOAN AS ADMINISTRATOR AND GUARANTOR”.
    AS I SAID EARLIER I THINK MOST PEOPLE WILL UNDERSTAND THAT THE SITUATION AS IT IS, IS A DISASTER, LARBI TADLAOUI NEEDS TO BE AVAILABLE TO SEE THIS DEVELOPMENT THROUGH OR IT IS DOOMED! IF THE BANK WALKS WE HAVE NOTHING!

  2. IT WOULD APPEAR A LOT OF MY FUTURE NEIGHBORS ARE MISSING THE FACTS!
    I LIKE MOST STILL WANT MY HOUSE IN MOROCCO. I PAID MY DEPOSIT KNOWING THAT PARADISE BEACH AND GOLF RESORT WAS SUPPORTED BY THE GOVERNMENT. THAT COMFORT HAS LONG PASSED AS THE GOVERNMENT SEEM TO BE SLOPE SHOULDERING THE BLAME AND NOT STANDING OVER PROMISES THEY MADE IN 2006 / 2007.
    THE FACTS HERE ARE VERY CLEAR FOR THE PEOPLE THAT WANT TO SEE PARADISE BEACH AND GOLF RESORT EVER FINISHED.
    THE FACTS:
    a) THE LAND IS OWNED AND AVAILABLE BY THE COMPANY WE INVESTED IN.
    b) THE FINANCE IS AVAILABLE TO COMPLETE THE DEVELOPMENT.
    C) AMENDIS AND VEOLIA HAVE SIGNED NEW CONTRACTS.
    d) THE FINANCE HAS BEEN MADE AVAILABLE BY BANQUE POPULAIRE TO PGBR AND LARBI TADLAOUI.
    e) ONLY LARBI TADLAOUI CAN DRAWDOWN ON THE LOAN AS ADMINSTRATOR AND GUARANTOR.
    I THINK MOST PEOPLE WILL UNDERSTAND THAT THE SITUATION AS IT IS A DISASTER, LARBI TADLAOUI NEEDS TO BE AVAILABLE TO SEE THIS DEVELOPMENT THROUGH OR IT IS DOOMED!

    • If all above is correct and put in place with such rapidity after a 10yr gap then l am in full support of full steam ahead for a wonderful completed development with compensation for furnishing

    • I think the developer need to convince the court and Moroccan government in finishing the project on specific date cause them are the ones they put him in jail, investors don’t trust him anymore and don’t believe a word he saying, his conning tactic is beyond the joke, he’s had several years when he was free to finish the development now that he is in prison his flapping coming out with all this nonsense ( 50% compensation, petition signed by investors …. it’s all lies.

    • Strange on point E. We all had a letter and a legal document saying a new director was appointed and that he could deal with moving the project homeward and making drawdown if funds. Did APBGR make that up and send us fake document?

  3. I did not sign any form to get the developer freed from prison After listening to my parents glowing reports of their Moroccan holidays I decided to join with them in the investment. It has been a great disappointment to them to have waited for ten years.. It is disgusting.

  4. We did not present any signatures, Larbi’s lawyers did, you are lying. how dare you accusing us of such a thing, you are a fraud.
    we all had the Norton rose report, you included but you choose to ignore it and we don’t.
    get your fact straight.
    and if you want to join us you can still send a support letter to the lawyers that would be thrilled to file for you.

    • We did not ignore report. Please listen it takes a measure of humility to do so. Its the time frame we are challenging. This scenario should have been addressed by developer years ago. We supported him and believed in what he said as the many years passed. I agree with you. The developer is a scapegoat. It takes a particular character to fulfill this role. One without inner authority and clarity. I would further suggest he looks closer to home than the figures he has identified. Positivity needs inner stability to also hold negative affect otherwise one ends up with narrow perception and arrogance that clouds judgment. That is why we are in this mess. Who sits in prison whilst the ill advised continue…yes the case will move on

      • Finally some wise words, as we all read on the report, Larbi tried to take amendis to court and that’s why he is in this position now, they told him off the records that he should have payed whatever they were asking for, no questions asked. Have in mind that even paying that money Amendis would not guarantee the water supply, so as I understand, Larbi didn’t want to throw the money with no guarantees. Now he is locked up and wished he hadn’t fight the system since the people he was fighting for let him down, well we did not let him down and Amendis will have to admit the wrong doing. In the mean time, we might lose it all and Larbi will spend 3 or 5 years in.
        tell me what is the next move we should do? cause we don’t see any other solution.

        Positive Group (not karl 😉 )

  5. We invested in PGBR ten years ago We have signed no forms to get the developer out of prison. We did not put him there in the first place.The Moroccan authorities must have a very good reason to keep him there. All we want is our property or our money back.

  6. Mr paradise positive group I’ve known for,years,I may lose my hard earned money but trust me I will fight for justice till the end.

    • Well Mr Paul, let’s fight for justice now, and we will not lose it all. we still have a chance but we are short in time my friend.

  7. Maghreb Times, can you publish this petition? Strangely as an investor I haven’t been asked to sign this petition but was asked to sign an undated form in 2011 related to a compete different matter. Which is likely to have been used without my knowledge for this so called ‘petition’. Another scam from the developer and his team who haven’t got any shame (they went as far as paying demonstrators at the last demo in London on Oct 10th!!)
    Now the developer is promising to finish off the project in 6 months!! Why hasnt he done so then in the last 6 years especially since his finances are in order as he claims now.
    Amendis chased him for three years to sign the agreement but in three years they did not even get one answer from the developer to all the letters chasing him to do so. Complete silence for 3 years!

    • page 3/10 minutes 2009 – 1st paragraph: director of Amendis Tanger explained “that the equipment Houara area was not planned and it takes a period of realization of 3 to 10 years”
      Then Wali recognizes “lasting between 3 and 5 years for the start of the zone”

      -page 5/10 – 7th paragraph:The former Wali who is now minister of Interior request to integrate the realization of a wastewater treatment plant at the Golf Tanger city for its watering he estimated at 3 Million Dirhams, while Amendis wants charge more than 11 million dirhams to ABPR without guaranteeing him the supply of water for irrigation; Whereas if they had left to ABPR it would have its own station 3 Million Dirham and so it could effectively manage water, recycle and have an efficient water management at the golf ABPR;

      -The 11 million dirhams for the golf irrigation appear on the mail breakdown of Trades 13/07/2016 Amendis (a total of 32 million dirhams). On the 2015 Financing Agreement AMENDIS wants ABPR pays 32 million DH (over 11 million DH for the irrigation of golf) Amendis but does not guarantee the supply of irrigation water
      Norton Rose Fulbright Report say : “The realisation of Off Site Infrastructure, by definition executed outside the perimeter of the Plot, was the responsibility of the State, According to our analysis, the State therefore is in breach of its obligation .

      Financing Agreement proposals’ thereafter sent by Amendis acting on the behalf of the State does not seem to demonstrate that an equitable and acceptable solution has been proposed to ABPR to rectify that breach.

      the State had not in any way appreciated the needs, in terms of infrastructure, of the projects of the zone where the Project was to be developed, and had not fully appreciated the scope of these undertakings, most certainly due to negligence, at the time of the signature of the Investment Agreement with Atalntic Beach Paradise Resort on 2007. “

    • The developer sued Amendis in 2011.But they said Government didnt give them funds to realize the OffSite Infrastructure.
      The Government told Amendis to charge the developers for that.
      As Norton rose Fulbright ReportI says :” the realisation of Off Site Infrastructure, by definition executed outside the perimeter of the Plot, was the responsibility of the State, According to our analysis, the State therefore is in breach of its obligation .

      Financing Agreement proposals’ thereafter sent by Amendis acting on the behalf of the State does not seem to demonstrate that an equitable and acceptable solution has been proposed to ABPR to rectify that breach.

      the State had not in any way appreciated the needs, in terms of infrastructure, of the projects of the zone where the Project was to be developed, and had not fully appreciated the scope of these undertakings, most certainly due to negligence, at the time of the signature of the Investment Agreement on 2007 with Atantic Beach Paradise Resort”.

      The developer is also sueing the Morrocan Government for breach of its obligation through the Arbitration clause of the Investment Agreement .

      • So when the land was purchased and planning permission obtained would clarification of these issues outlined not have been part of your responsibility as developer. At this time investors had already handed over 40% deposit in sterling mostly to someone they believed had the savvy to negotiate this. Land was purchased cheaply with great camaraderie at the time. This would be expected to be part of any business deal for such a development and sums of money involved. Not for 10yrs after the event

  8. What a load of rubbish! There has been 10 years for him to prove his innocence. A new group and 500 signatures suddenly appear, how convenient.

  9. I am an investor and I have not been asked to sign a petition to release Larabi, I have been asked to sign several things but not a petition. If the accounts are healthy why have I not been given my furniture deposit back? I keep being told it’s non refundable but surely that is devoided by non supply, I paid that deposit 6 years ago

  10. I have faith in the Moroccan justice system. If the developer has nothing to answer for with regard to 10yrs delay in completion of development lm confident he will be released. Part of this investigation must be an explanation as to the delay and why now can this be completed so quickly. Years passed with investors given all sorts of excuses. Now it can all be completed without delay. Amazing what a spell in prison can do!

  11. You stating in your article, quote ” Mr Tadloui has showed the court that the accounts are in excellent standing and ready to start delivering the first units within 6 months of his release” how is that possible when he is accusing (Amendis & Veolia) breach of contract….!? its all big lies, the developer had several years to finish the project its clearly this has become the biggest property scam, I would also like to remind you that the 500 sign petition is fraudulent they are in fact old forms signed years ago (in 2011) when Mr Tadloui was asking for investors for support in his problmatic affairs against Amendis back in 2011 those signatures have been recycled, no investor want to see the developer released from prison on till we get justice.

    • maybe if you pay more attention to the other expertise you might change opinion, since Amendis is making Mr Tadlaoui pay 4 times the price they agreed in 2009, so have Mr Tadlaoui increased our participation ? no ! so instead of whining give some support to Mr Larbi and stop being Angry, anger is not the answer 😉

      • So by not paying years ago the increase in interest is enormous. This functioning is meant to be funded by the investors ? Decision making, and how this project has been handled points to an inability for the developer to look after himself never mind the money of others. This is life savings, retirement funds as well as the damaging impact of being lied to and manipulated. You advise on what we should do with our emotions!????

  12. I would love to have a glimpse of these documents which 500 investors have supposedly signed in support of the developer’s release from prison! As others have commented, these documents are most likely the undated participation letters that we were asked to sign in 2011, regarding a completely separate matter. Clearly a fraudulent misuse of these documents, but not all that surprising given the number of times we’ve been lied to and strung along.

  13. What a load of rubbish, the petition is fraudulent, it’s a signed document from 2011 that we all signed regarding a totally different matter.
    I was at the demo and the protesters in black t shirts were hired from an agency and paid £50 each, I saw them all get paid at Gloucester Road station, this petition is a fake

  14. Recycled signatures from 2011! No genuine investors have been contacted to sign a petition recently in favor of the developer. Maghreb times, can you publish those signatures to establish the truth? Genuine investors will be surprised to find their names on it without their knowing.

    WARNING: you have been spotted as a spammer, your other posts have been deleted.
    The Maghreb Times

  15. I don’t think your article gives a fair and balanced view. I am a genuine investor – the demo in London was hijacked by ‘fake’ investors – i.e. paid actors with the purpose of raising support to get Larbi out of jail. I have no personal interest in him being in jail or why the government put him there. What I do want is either my property completed or my deposit back. After 10 years of waiting for him to complete this project enough is enough – I’m fed up with excuses and blame passing between the parties. If there has always been money available why hasn’t he finished it and why has he not paid the water company! As to the signing of petitions or documents, there has only been one AUTHORISED petition that was handed in to the embassy in London earlier this year and also posted to the Wali of Tangiers. I along with other investors have not been asked to sign another petition. The only other documents from APBR we signed were related to confirming attendance at a meeting in 2011 or more recently signing to say whether we would accept a discount by way of compensation. There have been no other documents sent to us requiring us to sign to support the release of the developer. The ‘positive’ group as they call themselves have purported to have a 500 signature document validated by the Embassy and Consulate. We have made contact with representatives at both of these and they deny they have authenticated any such document. Perhaps if you have sight of that document you should share it with us!

    • You are not genuine, you are FURIOUS ! and this is not how we’re gonna resolve this matter.
      The new government is about to erase this case and move on and y’all have nothing and no one to be angry or furious at.
      be prepared to lose it all if Mr Larbi is condemned intead of Amendis.

      • The government will not erase this case there will be uproar in both London and Tangier, this is a big fraud case it can damage Morocco real estate reputation forever and the developer wasn’t put in prison for no reason otherwise minister of interior and minister of justice wouldn’t be involve.

      • I have already lost – I’ve lost my deposit which I could have invested elsewhere, i’ve had to pay more interest on my mortgage for the borrowing, i’ve lost my father – for whom this property was to be a warm haven in the cold winters — i could go on but what’s the point – you are devoid of any emotion or understanding of what investors have been through.

  16. This is a completely unfair reflection on what is taking place. The developer has had years to complete this project and we true investors have nothing to show for ít. The demonstration in London organised by true investors who do not want the developer released was hijacked by paid actors who want the developer released. This should be addressed appropriately worth your reporters speaking to REAL investors who want their peppery finished our money returned to them

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