Petroleum Africa
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Wednesday, February 3, 2016
Six people in Algeria have been jailed over a corruption case involving the country’s state-run oil firm Sonatrach. Those arrested included the company’s former VP, Belkacem Bourmediene, and an ex-state bank chief.
The court also fined two local subsidiaries of international firms.
The charges against the defendants included corruption, money laundering, awarding contracts contrary to the law and regulations and hiking the prices of contracts, state news agency APS reported.
The criminal court gave Boumediene a five-year sentence while former Sonatrach chief executive Mohamed Meziane received a five-year suspended sentence.
The court also imposed a fine worth four million dinars on Contel-Funkwerk and Saipem Contracting Algeria.
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