Antwerp: Islamic loans conman sentenced to prison

Antwerp: Islamic loans conman sentenced to prison

The correctional court of Antwerp sentenced Mohamed Banyaich (59) to 18 months in prison and 2,500 euro in fines.  The Moroccan journalist from Antwerp conned several people out of considerable amounts of money through 'Islamic loans'.

These laws are without interest, but this religious law was sidestepped by paying other expenses in advance, such as for example paying for the files and insurance against bad debts.  These amounts severed as compensation for the interest.
The accused had the victims pay the preliminary costs, but they never saw the money for the loan.  Here and there he paid people back as a pretext not to pay the entire amount.The incidents occured between December 2000 and September 2003.  He was already convicted for similar incidents.

The court forfeited capital gains of 85,000.  Mohamed Benyaich has to pay four civil parties damages totalling 180,772.

Source: HLN (Dutch)

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