Algeria (Union)
Yesterday, an Algerian court decided to fine Said Bouteflika, brother of the country’s former president, and businessmen close to him, with about $3 billion to the state treasury, after convicting them of a corruption case.
This came, according to what was reported by the official Algerian News Agency, on the Economic and Financial Pole Court in Algiers. And the agency stated that the court “ruled that Said Bouteflika and several businessmen (who did not specify their number) pay 400 billion dinars (about 3 billion dollars) to the public treasury as compensation for the damages incurred.” Said Bouteflika was involved in this case with several businessmen previously close to the presidency, such as Ali Haddad, Muhyiddin Tahkout, and the Kouninef brothers.
The court charged them with “money laundering by transferring property resulting from criminal proceeds to conceal and disguise its illegal source,” during the reign of the late President Abdelaziz Bouteflika (1999-2019).
In addition to compensation, the court issued a 12-year prison sentence against Said Bouteflika, with the confiscation of all funds, revenues, and real estate resulting from the proceeds of corruption in the framework of this case.
The punishment for the businessmen ranged from 12 years for Ali Haddad, 15 years for Mohieddin Tahkout, and 10 years for the Koninaf brothers, who are “Rida, Abdel Qader Karim, and Tariq Noah.”
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