About half a million workers lost jobs when several Algerian companies investigated for corruption discontinued operation, reports Middle East Monitor.
Protests in Algeria. (Credit: Rihem jeon [CC BY-SA 4.0]
The resignation of Algeria’s long-time president Abdelaziz Bouteflika, 82, in April after public outrage and mass protests against his plan to run for a fifth term, triggered a series of investigations and shutdowns of several companies led by businessmen close to Bouteflika.
Some of them were arrested for illegally transferring money and smuggling hard currency abroad, according to American think tank the Washington Institute.
Those arrested include Algeria’s richest man, Isaad Rebraab, a loud critic of Bouteflika, whose net worth is more than $3 billion, and the four Kouninef brothers accused of getting governmental concessions and huge