Othman Benjelloun

Banco de España sanctioned BMCE Bank International for a very serious infringement involving failings in corporate governance and remuneration policy. Othman Benjelloun, a board member, personally received a €29,600 fine, which became final through administrative proceedings.

State of the evidence

Documented

Attribution

Directly implicated

The ICIJ Offshore Leaks database identifies Othman Benjelloun as the beneficial owner of Risver Investments Limited, a company incorporated in the British Virgin Islands in 2002.

State of the evidence

Documented

Attribution

Directly implicated

As France Télécom/Orange approached its planned acquisition of control of Méditel, Moroccan shareholders FinanceCom and CDG challenged the proposed valuation. The press reported that Othman Benjelloun was seeking to challenge the shareholders' agreement rather than accept a valuation considered highly unfavourable.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Directly implicated

Le Monde reported that Othman Benjelloun had been called upon in 2001 to take over and rescue the Maroc-Soir group, publisher of Matin du Sahara, among other titles. Observers quoted by the newspaper interpreted the operation as the price or opportunity for his 'return to favour' following tensions with the palace over an attempted takeover of ONA, while the press described the 'invisible hand of the palace' in the matter.

State of the evidence

Reported by the press

Legal status — source text

Not applicable

Attribution

Directly implicated