Panama Papers: Algerians transferred huge funds

The world was shaked by a scandal called Panama Papers which showed that 140 Arab and world personalities smuggled money. The list includes Algerians, alive and dead leaders. Of them, there are Vladimir Putin, Hosni Mubarek, Alaa Mubarek, Bachar Al Assad, Muammar Gaddafi and Leonel Messi.

Panama Papers published leaks accusing Algerian names of creating fake companies and smuggling money.

French newspaper Le Monde said Algerian minister Abdesselam Bouchouareb set up Company Royal Arrival in April 2015. It operates between Turkey, Algeria and Britain in commercial representation, public works and transport by rail.

According to the same source, Bouchouareb opened a banking account in Switzerland and a subsidy of a consultation company based in Luxembourg. 

“Bouchouareb does not need politics to make a living. As minister, he transferred 700,000 euros from Luxembourg bank to Geneva,” said the newspaper quoting an official at the company.

Panama Papers also talked about people close to Algeria’s former energy minister Chakib Khalil such as Farid Bedjaoui, Reda Hameche and Omar Habour.