Sonatrach scandal: Investigations expose the way of transferring the company's money to Switzerland

A team of investigators in the case of Sonatrach, reached a new data about the path that was taken by financial transfers linked to the sale of Algerian oil by the company “Sonatrach Petroleum Corporation” London, which some of its officials transferred funds to personal accounts in Swiss Banks, without notifying the financial authorities of the company Sonatrach and the competent regulatory authorities at the level of the Bank of Algeria.

A source which follows the investigation, said that Algeria was able to get very important data in the context of international transfers hat have been released in collaboration with the judicial authorities of several countries, including Switzerland, Italy, France, Canada and the United Arab Emirates.

Financial data that have been obtained from Switzerland included the names of Senior Officials in the oil sector in Algeria, and the value of the money that has been transferred to their accounts in Switzerland, and the dates of the transfer’s operations, a data that allowed the investigation with some officials in Algeria, within the framework of the investigation and preventing them from traveling and the withdrawal of their passports.

Echorouk source, which is a senior official in Sonatrach, asserted that the Algerian justice studied the file of the company “Sonatrach Petroleum Corporation” and the issue of selling oil abroad, and this will accelerate the uncovering larger and more dangerous issues of corruption and bribery than Sonatrach 1 and Sonatrach 2 cases, adding that the delay in opening the file may omit a lot of evidence although the British tax authorities are aware of the precise details of the trafficking operations of the Algerian oil and gas, thanks to the data that has been leaked by one of the oil traders who dealt for years with the company “Sonatrach Petroleum Corporation”, and who is a European National.

This businessman would be behind the leaking of the file of tax evasion, and the British Tax Authorities sent a correction to the company “Sonatrach Petroleum Corporation” based on accurate data about fraud in the sale of and billing of the Algerian oil shipments.

British Taxation Police have sent by the beginning of this year, a tax correction to the company “Sonatrach Petroleum Corporation”, which is based in the British Virgin Islands in the East of Puerto Rico, through its branch in London, which is a representation of the company based in the Virgin Islands, and in charge of business operations of the International group Sonatrach.

British Financial Authorities estimated the value of the first tax correction linked with the activity of 2008 to $ 45 million, before the hands of the tax police stretch to the operations relating to 2009, 2010, 2011 and 2012, after receiving data from the businessman who dealt with Sonatrach London, as the British Financial Authorities found that there are financial manipulations by managers of “Sonatrach Petroleum” in London, and who billed the operations of the company from Algeria, while they were carried out from London in an attempt to evade British Tax Authority.

European businessman leaked information to the British Tax Authorities, after a dispute with officials of the company, and handed over a full file for the services of taxes in Britain, and based on this data they imposed first correction of the kind against Sonatrach, which scrambled to cover up the file for fear of scandal, and fearing the spread of news to big names that were in London, and who were appointed in very suspicious circumstances.

Under the British Financial Laws, operations of “Sonatrach Petroleum Corporation” are put under tax investigation in the Virgin Islands, and its branch which is actually located in “Banton House” in the street of “Hay Market” in Piccadilly in central London, which is in charge of paying taxes to the British Authorities for some of the operations that were carried out there, and that did not exceed the conduct of wages of some of the staff there, the director of the office and the secretarial, on the grounds that the real processes all take place in the British Virgin Islands.

Accusations have been directed by the British Financial Authorities to the Director of the Office of “Sonatrach Petroleum Corporation” in London, Ali Ben Bouzid, who was appointed by Chakib Khelil in office, as sources say that the search for the full truth may lead to the questioning of Omar Maalio, who was appointed in the same position with accommodation in London in 2011, and who told some of his aids that he inherited a disastrous conduct scandals from his predecessor, which caused the end of his duties in abnormal conditions.