A fraud trial involving more than 100 defendants in Algeria's biggest financial scandal since independence, is due to open Monday. However, the main defendant, Algerian tycoon Rafik Abdel-Moumen Khalifa, is currently exiled in London.The 30 charges include fraudulent bankruptcy, criminal association, abuse of trust, embezzlement, forgery and bribery.
AFP reports the main charge relates to $420 million missing from the accounts of the Khalifa Bank following alleged irregularities in the management of deposits and failure to observe proper safety precautions in granting loans.
Post: 4/10
