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Africa North
Algeria: Police seize billions of dinars
2006-11-28
Security services have launched a series of arrests among the terrorist-supporting nets and cells. Movable and immovable properties have been seized in several places, in Boumerdés (east of Algiers). Investigations proved it to be the result of money stolen by the terrorists from citizens and public institutions. The possessions are estimated at four billion centimes.
That's... ummm... $28.97, U.S... No. Wait. Dropped the decimal point and forgot to multiply by the square root of 41. It's 58,407,846 US Dollar, assuming the centime and the dinar are the same critter.
Reliable sources say security forces apprehended several people last week on activity within terrorist-supporting cells charge. The terrorist groups, the arrested have been suspected to support, belong to the Salafist Group for Preaching and Combat (GSPC) zone II. Police moved according to investigationsÂ’ outcome, and discovers the netÂ’s members were involved in money bleaching. The stolen money has been used used for investment or meant to by the Salafist group. It was robbed by GSPCÂ’s zone II squads under the supervision of the zone chief Abdelhamid Saadaoui alias Yahia Aboulhaitham.

Investigators into terrorist’s loots estimated the seized properties at four billion dollars, according to the same sources which pointed out that repented terrorists’ confessions contributed to the operation, allowing police to find out about the “money bleaching”. The money has been stolen from individuals, post offices and banks. A part of the seized properties had gone to Zone II chief’s relatives in Ain Hamra, Boumerdés.

The Salafist group for preaching and Combat did not deny looting operations against financial institutions, as the GSPCÂ’s website (down now after it was busted by American Intelligence Agency) broadcast images of a trap against a money-carrying vehicle, in an isolated area in Tizi-Ouzou. The images also show the moment when the vehicle was unloaded by terrorists. Big amounts, dinars and hard currency as well, were displaying on the website.

Sources in relation to antiterrorism against GSPC east of Algiers expected Yahia Aboulhaitham to be trialed by the Salafist GroupÂ’s leadership for the investment plan failure and the dismantling of the investment-managing net. He is also blamed for the failure of an arms carrying operation. The arms had to be transported from African Sahel to Northern strongholds, via Algerian Sahara.
Posted by:Fred

#6  Unless they were talking about money laundering. thatr waz my first interpretation/translation...

#1) My understanding of the money bleaching is to bleach (remove) the ink of low denominations and reprint the bill with larger values
Movable and immovable properties have been seized in several places, in Boumerdés (east of Algiers).

#2) money laundering [hiding the trail/source]

#3) Fastidious Salifists (obsessive-compulsive clean freaks)

** Other notable translation guffaw...

"It was robbed by GSPCÂ’s zone II squads under the supervision of the zone chief Abdelhamid Saadaoui alias Yahia Aboulhaitham.
Investigators into terroristÂ’s loots estimated the seized properties at four billion dollars"
Posted by: substitute teacher   2006-11-28 13:18  

#5  Unless they were talking about money laundering.
Posted by: Fred   2006-11-28 12:49  

#4  Thanks for the insight BR. Money laundering raised to an art form.
Posted by: Phineter Thraviger   2006-11-28 12:36  

#3  Somehow I figgured you'd know that BrerRabbit.
Posted by: Deacon Blues   2006-11-28 12:31  

#2  An Algerian Dinar is about 71 to the dollar and 100 centimes to the DZD. That makes the haul worth about 560k dollars.

My understanding of the money bleaching is to bleach (remove) the ink of low denominations and reprint the bill with larger values.
Posted by: BrerRabbit   2006-11-28 11:41  

#1  ".. and discovers the netÂ’s members were involved in money bleaching. The stolen money has been used used for investment or meant to by the Salafist group." I think the Bangla press is on vacation in writing in Algeria, or I should learn to bleach my saw bucks into centimes.
Posted by: Phineter Thraviger   2006-11-28 01:21  

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