Algeria launches money laundering probe on back of Panama Papers



The government of Algeria has launched a money-laundering investigation based on information revealed by the International Consortium of Investigative Journalists Panama Papers investigation.

The investigation, which involves the abuse of a government-run milk powder subsidy program and laundering the proceeds from the scheme, was revealed in a decision by Switzerland’s Federal Court. The fraud’s alleged masterminds had bank accounts in Switzerland.

In reaching its decision, the Swiss Federal Court cited reporting by Algerian journalist and ICIJ member Lyas Hallas who worked on the Panama Papers. The story was published by Le Monde Afrique.

Algerian entrepreneur Zoubir Bererhi, the brother of a former

... read more at: https://www.icij.org/blog/2018/09/algeria-launches-money-laundering-probe-on-back-of-panama-papers/

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