Rafik Khalifa, a former Algerian tycoon who once owned an airline and a string of companies, has been extradited to his homeland from Britain, Algeria's APS news agency reports.
He took refuge in Britain in 2003 when his business collapsed, costing the Algerian state and individuals between $US1.5 billion and $US5 billion.
In 2007, Algeria convicted him in absentia of criminal involvement and fraud, sentencing him to life in prison and demanding his extradition.
Britain's Home Office said last week that Khalifa had been refused leave to appeal to the Supreme Court on December 3 and would be extradited within 28 days of that date.
The European Court of Human Rights subsequently rejected an appeal that would have suspended the British extradition move.
The extradition rook place "in conformity with the legal proceedings and judicial agreement between Algeria and the United Kingdom", Algeria's justice ministry said in comments published by APS.
Justice Minister Tayeb Louh said last week that Algiers had made arrangements to receive Khalifa and ensure he received a fair trial.
Once considered the "golden boy" of Algeria, Khalifa built an empire that included a bank and television stations, and employed 20,000 people in Algeria and Europe.
French authorities are also seeking to extradite Khalifa on fraud and embezzlement charges, but the Algerian request takes precedence.
