Officials smuggle 250 million Euros from Algeria to buy real estates in Spain

Algerian security forces are keeping watch on illegal transport of more than 250 million Euros by people holding senior positions, Echorouk has learnt.

• The suspects work for an international network of money laundry and smuggling operating between Algeria and Spain, sources said.
•  
• The smuggled money comes from Algiers and the province of Annaba (east of Algiers) with the help of officials. It was used to buy real estates in Spain between 2006 and 2009. A part of it was deposited in Spanish banks without passing through legal banking channels. Investigators believe that the money may come from suspicious deals and corruption.
•  
• Examining judges in different courts in Algeria started summoning some well-known figures and businessmen to question them about the source of luxurious real estates, buildings, properties and money deposited at foreign banks in Europe.
•  
• This investigation came following a questionnaire about the suspects’ debts to their countries and official institutions. The last correspondence was signed by Spain including a list of more than 100 people. Of them, a well-known man was summoned by to appear in court in Algiers. He was questioned about real estates and money deposited in his name at a French bank.
•  
• A well-known bailiff in western Algeria was summoned by an examining judge to know about the source of the new fortune he collected in two years. He built two hotels in Spain.
•  
• The investigations were launched following an order from President Abdelaziz Bouteflika who transmitted coded messages to general attorneys asking them to investigate into corruption-related cases.