Four local and foreign companies subject to funds embezzlement investigation

Four local and foreign companies based in Algiers and Blida provinces, are suspected of tax evasion and funds embezzlement, causing billion dinars loss to the public treasury.

• Security services have opened investigation with four local and foreign companies, after collecting information over abuses of the code of the movement of capitals, including tax evasion and trading illegally with public properties and real estate.
• In this regard, detectives have disclosed that one of the four companies has explored a 5 Hectares public property without any legal document.
• Another company has imported chemical substances, some of which are used in explosives fabrication, by dealing with banks not qualified to finance such activities, in addition to hiding the real value of the imported goods. This company imported such critical chemical materials from Tunisia, to get profit of Maghreb region customs nontariff agreement.
• Meanwhile, detectives are also investigating with a company which embezzled 190 million Euros abroad.