Mahieddine Tahkout corruption case: billions diverted and laundered abroad to be heard in court
via Alg茅rie3602 min read
The Sidi M'hamed economic and financial penal division court will hear a prominent corruption case on April 27, involving the transfer of billions of dinars belonging to imprisoned businessman Mahieddine Tahkout. These funds were allegedly diverted by private investors and then laundered through the acquisition of real estate abroad. Investigations by the third chamber of the economic and financial division uncovered money laundering and concealment of criminal proceeds, implicating four investors in misappropriating funds from Mahieddine Tahkout and his family. The main suspect, identified as "N.S.", a consulting firm manager, received 35 billion centimes from Tahkout for a large project. After Tahkout's arrest, the project was abandoned, but "N.S." allegedly did not return the funds. Instead, he transferred them to a Swiss bank account, then to an account in Spain, where the money was laundered by purchasing four luxury apartments and opening a new account for the remaining sums. Additionally, Ibrahim Tahkout filed a complaint alleging he was defrauded by two brothers, identified as the "G. brothers," who offered to intervene with the justice system for 15 billion centimes to secure Mahieddine's acquittal and release. They are also suspected of concealing vehicles belonging to Mahieddine Tahkout. The accused will appear before the first section of the economic and financial division. "N.S." faces charges including money laundering within a criminal organization, concealment
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Alg茅rie360.
Algeria's Sahara Blend crude oil saw the largest value increase among Arab crudes in the first half of 2026. Its price rose by $23.91 per barrel, reaching an average of $96.04, marking a more than 33% growth compared to the same period in 2025. This surge is part of a general upward trend for Arab oils, with the OPEC basket's average price increasing by 30% to $93.67 per barrel from $72.04 a year prior. Geopolitical tensions in the Middle East, including the Iranian war and the closure of the Strait of Hormuz, contributed to this price hike by raising concerns about supply disruptions. The Sahara Blend remains one of the most valued crudes in the region, closely trailing Saudi Light, which was the most expensive at an average of $96.88 per barrel. Other regional crudes also showed strong performance: Kuwait Export increased by 30.42% to $95.13 per barrel, and Iraqi Basrah Medium rose by 31.07% to $93.57. Libyan Es Sider recorded the second-highest value increase of $23.8, with the highest relative growth in the region at 33.7%, reaching $94.47 per barrel. In contrast, Emirati Murban had the most moderate increase of 23.81%, settling at $89.06 per barrel. Despite this strong half-year, June 2026 saw a general decline in prices. Algerian Sahara Blend fell to $87.27 per barrel in June. Saudi Light remained the most expensive Arab crude in June at $96.89 per barrel, followed by Kuwait Export at $92.28, Libyan Es Sider at $86.47, Iraqi Basrah Medium at $85.1, and Emirati Murban at
Must ReadAlgeria's Ministry of National Defense announced the dismantling of a criminal cell affiliated with the separatist MAK movement, classified as a terrorist organization by Algerian authorities. The operation, conducted by army security services in Tizi Ouzou, resulted in six arrests, including four Moroccan nationals who were illegally present in Algeria. According to the Ministry, the group was active during the legislative elections, aiming to disrupt the process and prevent citizen participation. The operation was based on intelligence work, which allowed for the prior identification of all network members before their simultaneous arrest. The Ministry highlighted this as an example of security forces' ability to counter criminal plans and destabilizing threats. The presence of Moroccan nationals in the cell was noted, though no further details were provided on their entry into the territory or specific roles. This operation is part of a broader effort by the Algerian National People's Army against subversive and criminal networks, with numerous arrests and operations reported throughout the year against terrorist support elements and cross-border criminal organizations.
Zainab Ghebbache, a student with dual Algerian and Italian nationality, achieved a perfect score of 100/100 with "e Lode" with honors on the Italian Baccalaureate, known as the Esame di Maturit脿, in Belluno, Veneto. She was one of only six students at Renier High School to reach this academic distinction this year. Despite her literary background and passion for poetry, Ghebbache plans to pursue aerospace engineering at the University of Padua, aiming to establish herself as a woman in a scientific field. She also intends to earn a university degree in literature within the next two decades to continue her writing. Her achievement has been celebrated by the Algerian community in Italy, with the Federation of Algerian Students and Executives in Italy, through its founding president Houari Chelakh, congratulating her and her family. The federation expressed hope that Ghebbache will serve as a role model for future generations and a "worthy ambassador of Algeria" abroad.