Oran authorities dismantle international money laundering network

Algerian authorities have dismantled an international criminal network specializing in money laundering, tax fraud, and the recycling of suspicious capital. The operation, conducted by the Oran Regional Service for the Fight against Organized Crime (SRLCO-West) under the National Security Directorate, resulted in the arrest of 14 individuals.

Investigations revealed a sophisticated scheme involving the creation of 33 shell companies used to inject illicit funds into the legal economy. The network utilized bank accounts associated with these entities to withdraw more than 7,380 billion centimes in cash.

Law enforcement seized a massive array of assets, including 29 real estate properties valued at over 26 billion centimes, 11 luxury vehicles, and industrial machinery worth over 10 billion centimes. Additionally, bank accounts containing over 20 billion centimes and various official seals and checkbooks were confiscated. The total estimated value of the seized assets, equipment, and financial holdings exceeds 62 billion centimes. The suspects have been presented to the prosecutor at the Fellaoucene court in Oran.