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Update: Monday, 14 April 2008    

Commerce and Industry Bank of Algeria (BCIA) scandal in Oran

Critical war between defendant and prosecution
Thursday Nov 02 2006.

The accused involved in Commerce and Industry Bank of Algeria (BCIA) scandal’s trial started earlier in Oran criminal court, where a procedural war is waged between the principal accused protected by French authorities

Contesting obstacles set before the appeal he lodged in the Supreme Court, and the prosecution keeping attached to the trail scheduled next Monday considering the fact that all the procedures taken in the treatment of the case are right and proper.

Yet all the possibilities are probable as five appeals are lodged against the prosecution’s decision before the Supreme Court. All the attention is being drawn to Oran Criminal court to follow the historical trail phases especially given the fact the case is as important as the loss toll is heavy which is estimated at about 13200 billion cents regardless the accused positions namely banks managers, executives, traders, and important importers.

This case beginnings remotes back to 2003, where very dangerous violations and abuses have been noticed in the importation of quantities of sugar’s transaction undertaken by Sotrapla company. The investigations revealed many discrepancies in loans and swifts granting without guarantee bills.

As of that time, this sensitive case treatment knew many developments, firstly, the examining magistrate recommending on 8 May 2005 to start liquidation procedures which means in lawyers jargon a criminal infraction namely public funds embezzlement and squandering, fraud and theft.

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