The Swiss Federal Criminal Court is reviewing a request from the Algerian government to freeze bank deposits belonging to Nassim Ould Kaddour, son of the former CEO of the North African country’s state oil company, Sonatrach, Al-Watan reported on July 28.

Judicial cooperation between Algeria and Switzerland has gained momentum in the pursuit of looted funds linked to high-profile corruption cases.

The development is part of an ongoing investigation into a 2018 deal involving the purchase of the ageing Augusta oil refinery in Sicily from ExxonMobil (US), an acquisition prosecutors allege was overvalued and conducted in secrecy, causing substantial losses to Sonatrach

Former Sonatrach CEO Abdelmoumen Ould Kaddour was sentenced in absentia to 15 years in prison, while his son received a 10-year sentence. In June 2024, Switzerland’s Federal Criminal Court supported the Algerian investigation, rejecting Nassim’s appeal and approving the transfer of financial documents related to a Swiss bank account, although the account had been closed in January 2021. 

Between September and November 2023, Switzerland handed over banking records, internal communications, and transaction details linked to Nassim’s activities.

The refinery case is considered one of Algeria’s largest corruption scandals as it exposed a broader network of illicit financial flows, Al-Watan notes. In 2023, Algeria also secured a freeze on a Swiss bank account belonging to former Industry Minister Abdeslam Bouchouareb, who was convicted in absentia of bribery and sentenced to 20 years.

Despite France's refusal to extradite him, Swiss authorities have pledged full cooperation with Algeria. Swiss Justice Minister Beat Jans reaffirmed this during a June 2025 visit, stating Switzerland’s commitment to helping Algeria recover stolen public assets.