Algerian Bank sustains financial loss of over 4 billion centimes over dubious truffle exports to Kuwait
The Sidi M'hamed tribunal in central Algiers has started examining a vexed file related to the illegal export by an Algerian foodstuffs firm of a large quantity of the much-sought truffles abroad for a financial package estimated at over 40 million dinars.
- The Manager of this Export – Import Company is in the dock for breaching the laws and regulations notably those related to illegal foreign currency transfers overseas.
- This foodstuffs company has carried out about 43 export operations of large amounts of Algerian truffles to Gulf countries including Kuwait where this product is highly appreciated by the local consumers who buy it at a high cost.
- The External Bank of Algeria (BEA) has filed a lawsuit against the defendant in order to retrieve the lost money transferred abroad estimated at over 4 billion centimes and demanded the confiscation of the exported loads of truffles.
- The BEA Bank’s lawyer also demanded the payment by this faulty firm Manager of 85 million dinars in damages.
- The defendant was finally sentenced to 6 months in prison by the tribunal in addition to the payment of a heavy fine.