Rafik Khalifa

Abdelmoumene Rafik Khalifa (1966-) (best known as Rafik Khalifa) is an Algerian businessman and billionaire.

Career

The son of a former minister of Ahmed Ben Bella, Larouissa Khelifa, Rafik started his career as a pharmacist. Ambitious, he managed to acquire President Abdelaziz Bouteflika's attention, and founded Khalifa Bank, which managed the interests of small private shareholders and institutional shareholders related to the Algerian government. Continuing his activities in France, he quickly created an empire which employed 14,000 people. He was in the luxury cars rental business, before founding Khalifa TV in France, Khalifa Airways, and buying a private hotel in Cannes which had belonged to the eccentric billionaire known as Môme Moineau.

Owner of three vilas in Cannes, Rafik Khalifa wanted to create a "ville nouvelle" named "Algeria," triggering the attention of French media. He became close to the French show-business, getting to know Gérard Depardieu and Catherine Deneuve. However, in 2003, a judicial liquidation of his endebted firm was started. Khalifa then used shady methods to save his assets. An investigation revealed the disappearance of 50 million euros in the Khalifa Bank of Algiers. Khalifa was then suspected of having spent the money of personalities close to the Algerian President Bouteflika. 17 judicial investigations were opened against him, who took refuge in London in 2003. The Khalifa Bank was closed on orders of Bouteflika.

Trials

His trial involved more than 100 defendants and 200 witnesses. On 22 March, 2007, he was condemned in Algeria, "in absentia", to a life sentence, charged of criminal association, corruption, abuse of trust, and forgery [ [http://news.bbc.co.uk/2/hi/business/6479285.stm Life sentence for Algerian tycoon] , BBC, 22 March 2007 en icon] . The trial was one of the largest in Algeria since the Civil War of the 1990s [ [http://www.iht.com/articles/ap/2007/03/22/africa/AF-GEN-Algeria-Bank-Trial.php Founder of Algeria's defunct Khalifa Bank convicted in absentia, sentenced to life] , "International Herald Tribune", 22 March 2007 en icon] .

A few days earlier, on March 5, 2007, the French justice had also issued an European arrest warrant against him [http://www.rfi.fr/actufr/articles/092/article_55831.asp Londres autorise l’extradition de Khalifa] , RFI, 30 August 2007 fr icon] . The Court of Nanterre had opened an investigation against Khalifa in 2003, charged of fraudulous bankruptcy, abuse of social assets ("abus de bien sociaux"; i.e. corruption) and money-laundering .

London authorized Khalifa's extradition in the end of August 2007 . Algeria has also issued an international arrest warrant against him .

References

See also

*Politics of Algeria

External links

* [http://www.lexpress.fr/info/monde/dossier/khalifa/dossier.asp?ida=428386 Dossier de L'Express]
* [http://www.interpol.int/public/Data/Wanted/Notices/Data/2003/96/2003_13596.asp Interpol] en icon