5 Companies Smuggle 3000 Million DZD Under The Cover Of Importing Public Works Equipment

General Directorate of Customs opened again an extensive investigations in the import of hardware and equipment for public works by five companies, including foreign companies that are active in this area, illegally with a financial value of more than three thousand billion centimes, which allowed the owners of these companies to smuggle and transfer billions of dinars toward foreign banks.

Echorouk sources said the investigations that were initiated by the concerned departments since the end of last August, was based on information that reached the intelligence services at the General Directorate of Customs, regarding the manipulation of a number of companies that are active in the importation of materiel and equipment for the large public works, to sell or rent them to private or public companies which are active in the area illegally, realizing enormous profits that harmed the principles of competition and investment in Algeria.

Preliminary investigation by the same sources said that they are five companies without obtaining the licence and the concession contract from the original manufacturer, as it turns out that these companies are involved in the transfer of capital to the private foreign banks in France and Spain, based on the import of new equipment although it is used and fake.

Same sources learned from officials at the General Directorate of Customs that, the services of subsequent control and the fight against fraud in the same directorate imposed fines of over 15 billion dinars against a number of foreign investors especially French investors who have companies with Algerian rights, after being directly involved in the smuggling of millions of hard currency under investment cover, to be able to smuggle millions of dollars by importing hardware and equipment under the pretext that they are used in the fields of their activity, while they are only old materiel and equipment that are sold in the market of iron waste of these countries.