Algerian Billionaire Arrested In Corruption Probe

Algeria’s richest man Issad Rebrab has been moved to jail on the public prosecutor’s orders, state media reported Tuesday a day after his arrest … Continue reading Algerian Billionaire Arrested In Corruption Probe

By Ignatius Igwe

Updated April 23, 2019

Algerian entrepreneur and CEO of CEVITAL industrial group Issad Rebrab poses for a photo in Algiers on May 8, 2016. Algerian police arrested on April 22, 2019 the country’s wealthiest man hours after detaining four other business tycoons from a powerful family with links to ousted president Abdelaziz Bouteflika, state television reported. The five are being investigated for corruption and include Rebrab, the CEO of Algeria’s biggest privately-owned conglomerate Cevital, according to the state broadcaster. RYAD KRAMDI / AFP

Algerian entrepreneur and CEO of CEVITAL industrial group Issad Rebrab pose for a photo in Algiers on May 8, 2016. RYAD KRAMDI / AFP

Algeria’s richest man Issad Rebrab has been moved to jail on the public prosecutor’s orders, state media reported Tuesday a day after his arrest as part of a corruption probe.

Rebrab, the chief executive of Algeria’s biggest privately-owned conglomerate Cevital, was placed in detention overnight according to the APS news agency.

AFP