Mounir Majidi, a businessman and entrepreneur with an MBA degree from Pace University in New York, became the personal secretary to the King Mohammed VI of Morocco, in 2000. Two years later, the king appointed Majidi to be head of SIGER, the holding company of Morocco’s royal family with stakes in mining, agricultural and telecommunications businesses. Majidi, as head of the nonprofit association Maroc Cultures, organizes a popular, star-studded annual world music festival, known as Festival Mawazine in Rabat. He also has been the president of a Rabat-based soccer club.
In the data
In March 2006, Mounir Majidi received power of attorney privileges for SMCD Limited, which was incorporated in the British Virgin Islands in 2005. In January 2006, SMCD Limited authorized the purchase of a luxury 1930s schooner “Aquarius W” and put Majidi in charge of handling the transaction. After the purchase, the vessel was registered in Morocco. Renamed “El Boughaz I,” the schooner is now owned by King Mohammed VI. SMCD Limited was also used to make a loan for an unknown purpose to a Luxembourg-based company, Logimed Investments Co., Sàrl. SMCD Limited was liquidated in 2013. Majidi was also administrator of a Luxembourg company called Immobiliere Orion S.A., which borrowed $42 million in 2003 from a Mossack Fonseca-incorporated company to buy and renovate a luxury Paris apartment. It is unclear who owned the company that lent the money.
A lawyer for Majidi said, "The two companies to which you refer were created in strict accordance with laws in place and their existence is available from public registers."
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