Algerian businessman Issad Rebrab, head of the Cevital group, was released from prison on the morning of his verdict after serving over six months in provisional detention. The Sidi M'Hamed court had sentenced him to 18 months in prison, with 12 months suspended. Rebrab was also ordered to pay a fine of over 138 billion Algerian dinars. He was found guilty of violating exchange and capital movement regulations, as well as falsifying documents.
Rebrab was tried alongside two other accused individuals and two companies, Evcon Industry, a Cevital subsidiary, and The Housing Bank for Trade and Finance (HBTF). The court found Rebrab guilty of "infraction to the legislation and regulations of exchanges and movements of capital to and from abroad" and "falsification and use of falsification." The prosecution had requested a one-year prison sentence. Evcon Industry was fined 2.766 billion dinars, while HBTF was ordered to pay 3.168 billion dinars.
The case revolves around Rebrab's importation of water purification equipment using artificial intelligence. The prosecution alleged that Rebrab inflated the purchase invoices for the equipment. Rebrab denied all charges, stating that the equipment was a unique prototype and its value could not be compared to other similar equipment. The court, however, relied on an expert report that found the equipment's value to be significantly lower than the declared value.
The expert report, dated August 9, 2018, stated that the equipment's user manual was dated 2015, suggesting that it was used equipment. Rebrab and his co-defendant, Hacène Hannachi, disputed this finding, citing the presence of rust on some parts of the equipment due to transportation and storage. An Austrian engineer, who testified in the case, supported Rebrab's claims, stating that the equipment was new and the rust was a result of transportation.
Rebrab also disputed the country's involvement in the equipment's export, citing a Swiss company, ANTEI, which provided a lower-value invoice for the equipment. Rebrab stated that the equipment was a collaborative project between eight companies from different countries, including Algeria, and was a unique prototype.
Before the verdict, Rebrab expressed his frustration and innocence, stating that he had invested in the economy and was a significant contributor to Algeria's tax revenue. He claimed that he was being targeted and that his project had been offered 13 hectares of land in France for a symbolic euro.
Rebrab's release from prison comes after serving six months of his sentence. His lawyer had requested a counter-expertise, which was denied by the judge. The verdict marks the end of a 15-hour trial that saw Rebrab and his co-defendants defend themselves against charges of violating Algerian regulations.
Key points
- Issad Rebrab was sentenced to 18 months in prison, with 12 months suspended, and ordered to pay a fine of over 138 billion Algerian dinars.
- Rebrab was found guilty of violating exchange and capital movement regulations, as well as falsifying documents.
- The case involves Rebrab's importation of water purification equipment using artificial intelligence, with allegations of inflated purchase invoices.
