Khalifa’s victims lose their mind

The dream of many people who hoped to see their money multiplied at Khalifa Bank was turned into a nightmare as some of them died from shock and others lost their mind.

President of the Association of Khalifa’s Victims Amar Abed said the number of people who lost their money following the Khalifa case was estimated at 1,400 in 2003 but it went up to 8,000 a year later.

“In the beginning, they sent on hunger strike. Authorities then promised them to give them back their money after a year. A year later, they could not even contact the bank liquidator,” he told Echorouk.

Millions evaporated

Kawa, a 85-year-old man sold his old bakery and deposited his money at Khalifa Bank. In 2003, he found himself bankrupted and was hit by heart disease. Up to date, he has not recovered his money.

Mustapha was a rich man living in Algiers. He owned a villa on a beach in Ain Benian and another one in Staouali. He rented the first floor of it to Khalifa Bank’s subsidies. He preferred to deposit his money at the same bank.

“Many of Khalifa’s victims were tempted by high interest rate which is estimated at 13 percent. Of them, there was Taher. He saved the money he got from renting his villa in Staouali at Khalifa Bank. He even sold his other villa in Ain Benian and deposited the money at the same bank,” said Abed who is his friend.

“Yet, his dream was turned into a nightmare. Two months before his death, he told me he would be patient. He died without recovering his money,” he added.

Si Taher is an employee at the British embassy in Algiers. He saved his salary and 2,500 Euros at Khalifa bank every month. In 2003 and 2007, he went on hunger strike. He is still dreaming of recovering his money which is estimated at more than 300 million centimes.

Khira inherited 100 million centimes and real-estates in 1999. She sold them and saved the money at Khalifa Bank, hoping thet her three sons would come back from France and live in Algeria. She is still living alone as her sons swore to never come back to Algeria.

8,000 wait their money

Figures show that the number of Khalifa’s bank is estimated at 14,000 clients while official authorities say they are 17,000. Of them, 8,000 did not recover their money.