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Dismantled in Algeria an International Network Dedicated to Economic Crimes
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teleSUR English
Authorities in Oran (northwest) have dismantled a large-scale international organized crime network, arresting 14 individuals involved in money laundering, tax fraud, and the circulation of “suspicious” funds, Algerian police reported Sunday.
: Dismantled in Algeria an International Network Dedicated to Economic CrimesAccording to a statement from the state security force, the arrested individuals created 33 “ghost companies” through which they laundered some 738 billion Algerian dinars (about 5 million euros) by falsifying stamps, documents, and checkbooks from “illegal” bank accounts.
In addition to the properties, the materials used for counterfeiting, and “a large amount of cash” in local and foreign currency, eleven “luxury vehicles” and other “products of economic activity” were also seized.
This is the largest operation against economic crimes carried out in Algeria in the last decade, according to authorities.
The detainees were brought before the courts to answer, “individually,” for the crimes they are accused of, depending on their “degree of involvement” and the role they played “within the scheme.”