Algerian giant corn company « SIM » involved in scandalous transaction

A total of 13individuals including the general manager of the corn giant “SIM” have been put in custody the day before yesterday following gross misconduct in the so called “ cereal deal” sealed between the group SIM and the regional office of cereals of Al Afroun.

These persons were charged by the prosecutor of corrupt practices; money embezzlement and abuse, while 24 other individuals were mentioned in the

investigations carried out by the national gendarmerie and will be called to testify soon

In this respect the judge ordered to put in custody SIM’s general manager along with the general manager of the regional corn office as well four top managers in the same company in addition to several managers involved in this scandal.

The event goes back to the year 2006, where investigations revealed that regulations governing the regional corn office were not respected which forced the national mills association of mills to expel SIM’s general manager from their association. Indeed this one benefited from several privileges including discounts reaching 50 Algerian Dinars per quintal for the acquisition of poor quality corn and additional quantities exceeding over 80% of the allowed quotas.

This transaction goes against the regulations governing the distribution of corn for the corn offices, which stipulates that each office has to acquire the same quantity to avoid speculations. This law was issued by the former Algerian head of the government, Ahmed Ouyahia in the wake of price hike on the international market at that period.