Egyptian fugitive Mohamed Ali faces charges of promoting fake projects, foreign currency smuggling, money laundering in Spain

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Mon, 28 Sep 2020 - 11:10 GMT

 

CAIRO – 28 September 2020:  The Egyptian wealthy fugitive Mohamed Ali, who has escaped to Spain, is facing several charges including promoting fake real estate investment projects in Barcelona, illegal smuggling of large amounts of money in foreign currencies to Spain, money laundering, and tax evasion, according to local Spanish reports.

It was added that up to three Spanish companies helped Ali in his illegal crimes, through contracts worth € 200 thousand to facilitate an illusory project in Barcelona.

According to the details published by several Spanish reports, Ali arrived in Spain in 2018 with a ‘golden visa’ which means [accommodation in exchange for investments of €500,000], this visa was launched in Spain in 2013 according to goldenvisas website.

“An investment of €500,000 in real estate will gain family residency. The Spanish investor visa can be renewed every two years. After five years it is possible to gain permanent residency and after ten years citizenship. It is not necessary to live in Spain in order to retain and renew the residency visa permit.” The website explained.

The Spanish reports adedd that Ali was looking for fame after his arrival, and that several companies and mangers helped him to teach his goal; however, shortly he bought another office in Palo Alto, Barcelona; which helped him to get a fake image to promote himself.

Later on- those who helped Ali after his arrival in Spain including Chancellor Raphael Salanova admitted that they had been defrauded.

Salanova is considered one of the famous businessmen in Barcelona. His commercial track record places him at the helm of Universal Proyectos.

But what role did he play with Mohamed Ali? He had promised to provide him with foreign investors to finance the fake project, according to the same sources.

The text of the contract that we have seen is that the cost should be paid in 10 installments, each of 50,000 euros, in addition to sales tax.

In conjunction with the signing of the contract between Ali and Salanova, the Egyptian wealthy man searched for an engineering complex that would design the fake project.

The owner of the office stated that he had worked with Ali without going into any details. But the information we wanted we found in the contract that the two parties signed. Ali insisted that he obtain the design of converting part of the triple chimney area to a pyramid, but the "careful" office handed him a project to build a multi-purpose theme park in more than one site in the region of Catalonia.

As for the price, it was 30,000 euros paid according to the agreement, which is written in the investment project documents.

 

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