Oran, Algeria – Law enforcement authorities in Oran have dismantled a sophisticated money laundering operation, leading to the arrest of a man and a woman and the seizure of assets valued at approximately 28 billion centimes.
According to a statement released by the Oran police department, the operation was executed by officers from the Economic and Financial Crimes Unit. The investigation was triggered by intelligence gathered indicating the existence of an organized criminal network engaged in laundering proceeds derived from the illicit sale of psychotropic substances.
The criminal network allegedly laundered the ill-gotten gains by investing in real estate and luxury vehicles, with the intention of concealing the source of the funds and reintegrating them into the legitimate economy. The total value of the seized assets, including properties and vehicles, is estimated to exceed 28 billion centimes.
The investigation, conducted under the supervision of the Public Prosecutor at the Flaoussene Court, successfully identified and located the individuals involved, leading to their arrest.
The operation resulted in the seizure of a significant amount of cash, estimated at nearly 5 billion centimes. Authorities also confiscated a quantity of gold jewelry, four luxury vehicles, and three motorcycles.
Furthermore, investigators seized several luxury watches and nine money counters, each valued at 20 million centimes.
The arrested individuals now face formal charges related to money laundering and have been remanded in custody pending further legal proceedings. The Oran police department affirmed its commitment to fighting financial crime and ensuring the integrity of the Algerian economy. This case highlights the ongoing efforts to combat organized crime and financial irregularities within the region.
