“Guess who’s back?” This is the title of the text published Monday, June 6 by Oussama Ammar. The co-founder of The Family announces that he will embark on new projects: a YouTube channel that will talk about cooking, and especially a hedge fund (hedge fund)) baptized The Labyrinth which will invest in “crypto assets” in a totally algorithmic way. The entrepreneur explains in his post that he believes a lot in the potential of cryptocurrencies and NFTs (non-fungible token). He had already indicated that he was participating in Piano King, an NFT project by pianist Sofiane Pamart. He specifies that these projects will be done without outside investors, adding: “as if I had a choice…. :-)”.
Osama Ammar’s post does not address the accusations against him for two months. His former associates from The Family, Alice Zagury and Nicolas Collin, accuse him of having embezzled 3 million euros for his benefit which were to be invested in American start-ups. On May 25, they issued a statement stating: “more likely, we suspect that the capital raised was used for the benefit of Osama Ammar and that of his personal holding companies… Suspicions are growing that these sums would have could actually have been used for other purposes, in particular the financing of a prestigious real estate project in Normandy, the construction of which is contemporaneous with the transfers in question, as well as various unjustified costs and expenses”.
In the expressThe Family’s lawyer Ivan Terrel said: “We have focused our attention on the Domaine d’Ablon, and more particularly the expensive construction site of a prestigious residence called the Petit Manoir, which is in the process of being to be completed and the total amount of which is estimated at more than 2 million euros. This exceptional property belongs to a company controlled by Oussama Ammar. However, the construction schedule coincides exactly with the period during which countless disputed transfers took place. been practiced”.
Suspicions described as a “grotesque shortcut” by Christophe Delaune, owner of the Ablon estate. He bought this cottage in Normandy in 2012, then invested 6 million euros to transform it into a luxury hotel. He created a society, Domaine d’Ablon SAS, which in October 2021 raised 3 million euros, including 1.235 million from Oussama Ammar, through his personal company Thelema. The latter has had a 500 square meter luxury lodge built next to the estate, the Petit Manoir, which he rents for 5,000 euros a day. On his personal website, Oussama Ammar indicates that he is president of the Domaine d’Albon and of a company called The Domains Hospitality Group.
Asked about the financing of the Petit Manoir, Oussama Ammar did not answer. In this video, he said: “I have a base salary of 240,000 euros per year in The Family. I have to earn 200 to 300,000 euros more per year in conferences. It costs 10,000 euros to have Osama Ammar for an hour of conference”.
On the accusations of embezzlement, Osama Ammar had responded to Capital : “the 3 million euros quoted are a figure which has no real justification. It was The Family who contracted with the investors, not me personally. So there will be a discussion of responsibility. Wanting to put everything on my back when Alice Zagury and Nicolas Collin were leaders in the same way as me is not very credible”.
For the record, The Family has initiated several proceedings against Oussama Ammar. In France, a criminal complaint was filed on March 23 for “breach of trust, forgery and use of forgery”. Summary proceedings have also been initiated before the Paris Commercial Court concerning the investment to be made in the American start-up Stripe. A procedure to freeze his assets was initiated before the Paris court, which issued a precautionary seizure order on February 7. Another procedure to freeze its assets was initiated in the Cayman Islands, which granted an injunction to this effect on March 15. The Family has announced that it is preparing additional proceedings in England.
Finally, Osama Ammar confirms in his post that he has settled in Dubai. He was previously resident in London. His two personal holdings, Fabuleo Ltd and Aletheis The First Ltd, are registered in Hong Kong (the first registered the TheFamily trademark in 2013).