Top managers in the storm center at Algerian giant energy group

The examining magistrate at Algiers’ court has ordered the hearing of 19 top managers of the Algerian Energy Group “Sonelgaz” on charges of illegal procurement tenders and money embezzlement

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• Six among them are placed under legal restrictions pending their trial slated for the current month at Algiers’ court.
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• In-depth investigations have been carried out since a year by the finance squad in relation to money embezzlement that involved top managers at the company; following numerous correspondences sent to the Algerian Energy and Mines Minister Chakinb Khellil by other managers from Sonelgaz, in which they denunciated a series of malpractices.
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• Copies of the reports have been sent top the Algerian president Abdelaziz Boutreflika over the last few months. One of them contained details about malpractices surrounding the procurement of giant tenders to build two power plants over the last three years with a capacity of 1200 Megawatts each.
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• The scandal caused billions of Algerian Dinars of losses to the treasury and exhausted several state and public institutions’ budgets including military barracks and the National Security Administration.
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• Forty top managers involved in the scandal have been heard by the investigators so far. The group’s CEO is likely to be called up by the investigators to be examined, it said.