Thousands of people affected, and sometimes up to 20,000 euros per victim… It is undoubtedly one of the biggest scams of recent decades in France according to Julien Courbet
Julien Courbet assures us: it is “one of the greatest scams of the last thirty years.” It must be said that the figures are dizzying: thousands of victims who have all lost between 8,000 and 10,000 euros, even up to 20,000 euros for some, for a total loss estimated at more than 25 million euros. “This investigation is concerning, because we inevitably have someone close to us who has been had”explains the host to 20 minutesabout the latest issue ofScams! The show’s team investigated for more than a year to try to understand the workings of this monumental scam, collecting testimonies from numerous victims throughout France.
The man behind this machinery? Sadri Fegaier. Having become the youngest billionaire in France at 38, he was finally sentenced to two years in prison following his trial in December 2024. Today in liquidation, the company he founded is in debt to the tune of 500 million euros. It was through SFAM (French Multi-Risk Insurance Company, which later became Indexia Group) – specializing in telephone and computer insurance – that the businessman carried out this large-scale embezzlement. Julien Courbet details the mechanism of this scam “super smart”developed using several different methods: forced sales, false contracts with falsified signatures, but also and above all, the multiplication of direct debits without the knowledge of consumers.
“You buy a laptop or computer from a large store, you take out insurance in the event of breakage, loss or even theft, telling yourself that 10 euros per month for insurance is worth it. And, after a while, the customer will realize that the monthly direct debit is not unique, and that it has been debited five times, with five titles and with different amounts. explains the host.
In five years, Benjamin explains having lost 10,700 euros, for insurance which should have cost him 1,500 euros over the same period. It was only after all this time that he realized that money was being taken from him for no reason, several times a month. Like him, some victims noticed that their accounts were taken by several different companies, all belonging to Sadri Fegaier. Worse still, witnesses say they were taken without ever having signed a contract or transmitted their bank details. In reality, a single email offering an insurance contract, even without a response, was enough to activate a subscription. And this, thanks to a partnership with the Fnac Darty group, which transmitted the banking information of customers who purchased a telephone or computer.
In addition to his prison sentence and a fine of 300,000 euros, Sadri Fegaier was also required to reimburse the victims of his fraud… and to return the 14 million euros he owes to Urssaf. Of course, the businessman appealed this decision, and the procedure for compensating the victims promises to be laborious. “Customers will be able to be reimbursed according to a fairly tight reading grid, given by the court: you must justify having been called, you must justify having had a reimbursement proposal. It’s complicated, but there will be customers reimbursed through this prism and, again, subject to solvency”indicates Me Emma Léoty.
