New Financial Scandal Besets Oil And Gas Company Sonatrach

The tribunal of SidiM’hamed in central Algiers examined on Sunday an shady affair involving the head of the US Nibert Company specialized in the export of drilling materials destined to the hydrocarbon sector in Algeria through a deal with the oil and gas company Sonatrach.

According to the findings of the judicial investigation, the head of this American export company, Walter Hallding, was found guilty of gross evasion of customs duties which were due to be normally paid in line with the provisions of the relevant contract signed with Sonatrach.

As a result, during Sunday’s court hearing, the General Prosecutor required a 6 – month prison sentence against the US defendant and his wanted Algerian accomplice “K.M” as well as the imposition of a fine whose amount will be equal to the non-paid customs’ duties.

The final verdict in this tax evasion affair is slated to be handed down by the SidiM’Hamedtribunal on October 27^th 2013 after all the legal procedures are carried through by all those concerned by this file.

It should be noted that the US Nibert export company, which has been linked with Sonatrach in joint – ventures since 2001, is accused by the Algerian customs’ services of having failed to settle in due course owed customs’ taxes accruing from 10 pending transaction files out of a total of 32.