Petroleum Africa
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Sunday, November 15, 2015
Three defendants in an Algerian corruption case saw a Italian court ordered the seizure of assets worth €250 million. The corruption case involves Italian oil services firm Saipem. The seizure order issued by a Milan judge, seen by Reuters, said the assets seized included six buildings in Manhattan belonging to Algerian businessman Farid Noureddine Bedjaoui.
In October Saipem and five people, including Bejaoui, were ordered to stand trial on charges that Saipen paid bribes to win contracts in Algeria. The Italian firm said there were no grounds for the company to be held liable.
The other defendants named in the seizure order were Saipem manager Pietro Varone and Samir Ouraied, a fiduciary of Bedjaoui.
All three defendants have denied any wrongdoing.
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