Sonatrach’s managers denied provisional freedom

The public prosecutor of the court of Algiers has yesterday approved the decision taken by the examining magistrate to the former state-run oil company “SONATRACH” CEO , Mohammed Meziane and the other senior managers under judicial control, reliable sources have revealed to Echourok.

• The decision was taken after long hours of closed-door deliberations between the lawyers’ defendants and the public prosecutor that lasted until very late at night.
• In this respect, Mohammed Meziane and the other managers involved in this case are not allowed to leave the country and are required to appear before the judge on weekly basis to sign on a register.
• It should be noted that in-depth investigations, that have been carried out over the scandal that shook the biggest oil company in Africa, revealed that 1854 contracts have been sealed by mutual agreement over the period January 2005 to July 2009.
• The financial expert appointed by the public prosecutor to evaluate the damage endangered by the illegal transactions, has concluded to a loss estimated at some $ 9.6 billions. But the lawyers’ defendants have raised objections judging the estimates over amplified.