Algeria- Monday, July 20, 2020,/ https://africanpostonline.com/ A car tycoon in Algeria, Mahieddine Tahkout has been jailed for 16years and fined eight million dinars ($62,245) for corruption. He was also found guilty of money laundering.
The court of Sidi M’hamed has also sentenced his brother Nasser to three years imprisonment and a fined of eight million dinars. Besides, Tahkout’s two brothers, Hamid and Rashid, as well as his son Bilal have also been jailed for seven years and fined eight million dinars.
Mahieddine Tahkout is said to have amassed wealth under Algeria’s ousted president Abdelaziz Bouteflika using his privileges to his advantage and accessing public markets in violation of Algerian laws.
A fleet of more than 3,500 buses, a car dealership that markets major international brands, shares in private television and a colossal fortune… In twenty years,
Mahieddine Tahkout is an influential and one of the most powerful businessmen in Algeria with a fleet of more than 3,500 buses, and a car dealership that markets major international brands.
He started as a vegetable farmer and importer of coffee in the early 1990s until his transport business.
On 31 March 2019, Ali Haddad, former head of the main Algerian employer organisation, the Forum of Business Leaders was arrested and put on trial as he was accused of fraud, bribery, corruption and money laundering.
Most of the accused who are usually, Minister, business tycoons and influential public figures were arrested based on misappropriation of public funds, abuse of office, granting undue privileges, conflict of interest, corruption, money laundering and false statements.
Algeria is also fighting corruption which is a serious obstacle for development. Nepotism, bribery and connection are practised despite being a criminal offence.
There are laws in Algeria that criminalize offences on corruption, however, enforcing such laws are challenges faced by the country.
Source: Renate Dzodzomenyo -African Post Online
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Renate is a lawyer, publicist, and writer. She believes that education and information is the key to developing and shaping Africa. In her free time, she paints beautiful art pieces on canvas. Renate believes that life is a perception, and you live it the way you perceive it.
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