Financial scandal jolts Temmar's Ministerial Department

Well informed sources told “Echorouk” that the security services opened last week-end an inquiry into a shady transaction on the provisions of service concluded between the national Institute of productivity and industrial development, belonging to the industry and investment promotion Ministry in the eastern city of Boumerdes and the Swiss firm “Sarl Fidossem” on April 11th 2010. 

• The 2 sides initialed a contract for the training by the Swiss firm of Algerian executives over a 28 day period.
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• According to telling documents in our possession, the managers of this Institute who are under investigation, have deliberately infringed the laws and regulations governing the conclusion of public transactions notably by totally ignoring the prior study of the relevant file by the Institute’s follow-up commission.
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• Under the contract inked by the 2 sides, the cost of just one day of training ensured by the Sarl Fidossem Swiss Firm for a 28 – day period has been set at 1.300 Euros without counting the taxes.
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• The investigators are looking into these staggering expenses and are seeking to ascertain why the managers of this Institute have opted for a foreign firm for such a training session abroad instead of Algerian schools which can ensure the same specialized training on the quality system of accountancy and finance well in keeping with the IAS/IFRS required criteria.
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• Furthermore, “Echorouk” has learnt that this Institute has sent only 26 thousand Euros to the Swiss firm out of a total of 36.400 Euros outside taxes.
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• The investigators also discovered a Web message addressed by the Manager of the Swiss firm to the Manager of the above-mentioned Institute in which he accused a senior executive of this institute of having exerted  strong pressure on him to make him disburse large sums of money for his sole benefit.
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