31 Boeing aircrafts sold without permit from Algeria Bank

A court in Algiers opened Wednesday the case of Air Algerie’s representative for selling 31 Boeing aircrafts to Benghazeb and Al Buraq of Libya and a Cyprian company without getting permission from the Bank of Algeria.

The suspect is charged on violating exchange and capitals movement legislations.

The case had already been submitted a court in Algiers which sentenced the Algerian National Bank and Air Algerie a 39 billion centimes fine in absentia.

The Bank of Algeria filled a lawsuit against the Algerian National Bank because of a contract to sell 31 Boeing aircrafts and spare parts worth 38 million Euros. There was no document in the file showing that Air Algerie had get $250,000 as a payment in advance.

Security investigations showed that Air Algerie signed two other contracts with two Libyan companies to sell three Boeing aircrafts. The contracts were added to the file of the Cyprian transportation company. The Algerian National Bank approved the financial transfer from the Libyan companies at more than 32 billion centimes.