10 years in prison for Reda Kouninef and 4 for his son-in-law, with confiscation of their property – Algerian Al-Hiwar newspaper

Today, Tuesday, the Economic and Financial Criminal Court in Sidi M’hamed issued the maximum penalties against businessman Reda Kouninef and those with his followers on charges of money laundering and concealment of criminal proceeds. Kouninef was sentenced to 10 years in prison and a fine of 8 million Algerian dinars, with the confiscation of all seized items.

In the same context, his brother-in-law, N., was convicted. Abdul Aziz was sentenced to four years in prison and a fine of 8 million dinars.

With the confiscation of all seized properties. The court also obligated Koninav to pay 30 million Algerian dinars, and his son-in-law and son to pay 10 million dinars in compensation for the losses incurred by the public treasury.

On December 23, the Public Prosecutor at the Second Branch of the Criminal Court called for the maximum penalties to be imposed on the accused.

With the confiscation of all seizures and compensation amounting to 500 billion centimes,

Against the backdrop of money laundering and concealment of criminal proceeds, which the court confirmed today by applying the prescribed penalties.