Sidi Bel Abbes, Algeria – Police in Sidi Bel Abbes have successfully dismantled a transnational organized crime group involved in laundering money derived from illicit drug trafficking. The operation resulted in the recovery of assets and financial proceeds valued at over 6.6 billion centimes.
This operation follows a previous investigation that led to the thwarting of a drug smuggling attempt and the arrest of the main suspects. Subsequent investigations identified three key members of the criminal network.
According to a police statement, the network members were funneling drug trafficking proceeds into commercial transactions and exporting goods using falsified invoices. This activity caused significant damage to the national treasury, estimated at approximately 2 million euros in foreign currency losses.
The operation led to the seizure and recovery of 88,800 euros, over 500 million centimes in local currency, and approximately 1 kilogram of gold jewelry valued at 2.8 billion centimes. Authorities also confiscated two vehicles and a motorcycle.
The suspects have been presented before the Public Prosecutor at the Sidi Bel Abbes court, facing charges related to money laundering within the framework of an organized criminal group and violations of currency exchange regulations.
DZWatch will continue to provide updates on this developing story.
