Algerian Billionaire Issad Rebrab Freed After Conviction Over Crimes

This article was published on: 01/1/20 8:37 PM

Issad Rebrab

Algerian billionaire Issad Rebrab, head of Cevital, walked free on time served early on Wednesday after a court sentenced him to six months for tax, banking and customs offenses.

According to The National, prosecutors had sought a one-year prison sentence for the 74-year-old head of Algeria’s biggest privately owned conglomerate Cevital, who was one of several tycoons arrested in April as part of a sweeping corruption investigation.

The probe followed the resignation of Abdelaziz Bouteflika as president after weeks of mass protests against his 20-year rule.

Read the full story in The National

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