A life sentence to the Algerian «Golden boy»

A life sentence to the Algerian «Golden boy»

Khalifa Empire ephemeral glory collapse

El Khabar, 24 march 2007

After more than a two-month marathon trial led by Mrs. Fatiha Brahimi, Blida criminal court pronounced the toughest sanctions namely a life sentence for Algeria private company “Number one” Rafik Khalifa and 20-year sentence with no remission for Algeria Bank former governor Abdelouahab Keramane.
Blida Criminal Court also pronounced sentences in absentia for the other 9 runway charged in Khalifa case. The other verdicts are hereby mentioned as follows:

* 20-years sentence with no remission for Karim Ismael, Bouabdellah Salim Ali Moulay, Fouzi Baichi, Mohamed Nanouche, and Kebache Ghazi.
* 15-years sentence with no remission for Sakina Taibi.
* 10-years sentence for Nadia Amirouchane, Abdennour and Yasmine Keramane. Moreover, the properties of the above mentioned criminals are decided to be confiscated.

In another hand, Blida criminal court decided 150 request forfeitures of civil party right, submitted by assurance funds as well as other private and state-owned companies in addition to tens of individual savers. Meanwhile, the court accepted to put Khalifa Bank as a company in liquidation as a civil party.
However, a set of lawyers said that they will lodge appeals before the Supreme Court as regards the verdicts pronounced against their clients, qualified as “unfair and tough” ones.
Thus, the well-assorted conglomerate –banking services, Airways Company, TV station, luxurious car rent, editing, health and textile- holding at its climax a one billion dollars turnover, the Empire emerging from the nothingness has sunk into oblivion, nonetheless the other links of the Algeria Century’s Financial Scandal’s chain will unveil other details of Khalifa decent into Hell.

By F. Z. / Translated N. K