According to our information, the case should be tried in 2023 in Marseille, fourteen years after the first complaints against this company, both real estate agent and financial advice.
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A scam relating to nearly 1 billion euros, seven hundred blurred real estate investors and twenty-six banks formed civil parties: fourteen years after the first complaints, the Apollonia affair should finally be judged in the spring of 2023 in Marseille. According to our information, the investigating judge Valéry Muller rendered, Wednesday May 25, an order referring the company Apollonia and thirteen defendants before the criminal court, in particular for “scam in organized gang”, “false” and “laundering”. It thus puts an end to an endless instruction, full of twists and turns, since lending organizations and banks had been indicted for complicity before joining the cohort of civil parties.
In the early 2000s, Apollonia, both a real estate agent and financial advice, experienced a boom that makes the “one” economic publications. The success of this company based in Aix-en-Provence, created by Moussa-Jean Badache, former trader, and by his wife, Viviane Badache, esthetician, is explained by the “turnkey product” offered to an easy clientele, mainly from the medical environment and anxious to build up a real estate heritage for retirement.
By telephone canvassing, Apollonia and its salespeople provide doctors, surgeons, dentists, absorbed in the exercise of their activity, which they can achieve it without a scholarship, making a self -financing of real estate acquisitions and their Charges thanks to rents, very advantageous tax provisions and the reimbursement of VAT on the condition of obtaining the status of a professional furnished rental (LMP). Hundreds of investors accept, 690 are today civil party, faced with over -indebtedness ranging from 800,000 euros to 4 million euros.
Promised self -financing turns out to be a mirage. However, everything works well for the first five years thanks to the reimbursement of VAT, which the judge Muller describes as “makeshift dressing”, and the tax advantages. It is during this state of grace that Apollonia will benefit from effective word of mouth in hospitals and medical offices. Among the first complainants grouped within ASDEVILM – Association of the victims of Apollonia -, a biologist doctor had discovered, after a few years, that he was in debt with seven banks up to 3 million euros. To the investigators, he told the meeting in a flashy style with Moussa-Jean Badache, in “a large office with Montblanc pens everywhere”.
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