In a notable case of financial deception, a Belgian court has sentenced Said A., a 41-year-old resident of Genk, to four years in prison for defrauding four men and a company out of a staggering 1.9 million euros. The court's ruling, delivered on April 3, 2025, revealed a complex web of lies spun by Said A., who promised lucrative investments in Morocco and fabricated stories about family emergencies to manipulate his victims.
Between June 2017 and November 2024, Said A. was able to convince his victims to lend him money by presenting various schemes, including supposed real estate investments in Morocco. He also claimed to need funds to resolve personal issues or to support his business ventures. His tactics were manipulative; he threatened his victims with the loss of their previous payments if they did not continue to provide him with funds. This pressure led some to borrow additional money to meet his demands.
According to the court, Said A. documented his debts in written acknowledgments, promising to repay the amounts by specific dates. This practice lent him an air of credibility, making it easier for him to extract more money from his victims. Meanwhile, he lived a lavish lifestyle funded by the money he had swindled, purchasing expensive cars and staying in luxury hotels.
Despite his extravagant living, authorities managed to apprehend Said A. in late 2024 in the Netherlands, executed under a European arrest warrant. He was subsequently extradited to Belgium, where he faced trial. During the proceedings, he claimed that he intended to repay his debts. His lawyer noted that his family had already paid 500 euros to one of the victims, but he was unable to compensate fully due to his incarceration.
The court found that Said A. had committed fraud and forgery with premeditated intent, emphasizing that he had exploited his victims for personal gain without regard for the harm inflicted upon them. In addition to his prison sentence, the court imposed a financial penalty of 8,000 euros and ordered the restitution of the 1.9 million euros to the victims. Furthermore, he is barred from engaging in any professional activity for a period of three years.
Meanwhile, in a separate yet equally striking financial development, Ilham Kadri, the CEO of Syensqo, a Belgian company, has made headlines for receiving an unprecedented bonus totaling 25.7 million euros over the past two years. This remarkable figure has positioned her at the forefront of executive compensation in Belgium.
Reports from Belgian media indicate that Kadri, who has Moroccan roots, is expected to receive an additional retention bonus of 7.5 million euros in 2026, potentially bringing her total compensation to an astonishing 33.2 million euros. This surge in her earnings follows the split of Solvay into two independent entities, Syensqo and Solvay, which was finalized at the end of 2023, with Kadri at the helm of Syensqo.
During the transition, she received a substantial bonus of 12 million euros, the highest recorded in Belgium according to the newspaper L’Echo. Additionally, her compensation package included a retention bonus of 4.3 million euros and variable compensation amounting to 3.16 million euros for the year 2023. The annual report from Syensqo highlighted a variable compensation of 2.75 million euros, alongside an extraordinary payment of 3.5 million euros, with further bonuses expected in the coming years.
Kadri's fixed salary also saw an increase, rising from 1.31 million euros in 2023 from Solvay to 1.5 million euros in Syensqo in 2024. The company clarified that the retention and incentive plans are aligned with performance conditions set by the Executive Committee, adhering to standard compensation policies.
Ilham Kadri, born on February 14, 1969, has had a distinguished career trajectory, marked by her leadership in major companies such as Shell and Dow Chemical before taking charge at Solvay in 2019. Her remarkable achievements have garnered significant media attention in both Belgium and France, especially following her successful leadership during the split between Solvay and Syensqo.
As these two stories unfold—one of deception and the other of extraordinary financial success—they reflect contrasting narratives within the business and legal landscapes of Belgium. While Said A. faces the consequences of his fraudulent actions, Ilham Kadri continues to set records in corporate compensation, embodying both the potential for success and the risks associated with financial dealings in today's world.
