The Economic and Financial Criminal Court Chamber decided on Monday to postpone the trial of those prosecuted in the corruption case involving the public group for metal, iron, and steel industries “Imetal” and several of its branches to October 20.

The postponement was requested by the defense team to appoint new lawyers in the case. After the detained and non-detained accused entered the courtroom, the chamber president began calling the parties involved, including defendants, witnesses, and civil parties. The defense requested to postpone the trial due to the appointment of new lawyers, and the president decided to delay the trial until October 20.

Twenty-five individuals are being prosecuted with serious charges ranging from granting unjustified privileges to others in contracts or deals with the state or its institutions, in violation of laws and regulations, money laundering and criminal proceeds through transferring, disguising the true nature, source, location, or handling of assets within a criminal group using professional activity facilitation, intentional embezzlement of public funds, and abuse of office.

The case was triggered by a detailed report submitted to the Public Prosecutor’s Office at the Economic and Financial Criminal Court in Sidi Mhamed, which included corruption and management violations at the public group “Imetal” and collusion to embezzle public funds and conclude contracts and deals in violation of laws, particularly in the two vital branches: the iron and steel complex “Sider El Hadjar” and the National Recovery Company. These acts granted undue advantages to others, causing a decline in the complex’s production capacity, damage to sensitive facilities, and repeated production cycle stoppages, resulting in financial losses to the group and the public treasury.

Following this, a preliminary investigation was opened by the Central Brigade for Combating Economic and Financial Crimes at the Central Service for Combating Organized Crime of the General Directorate of National Security, which uncovered very serious facts and catastrophic management that ultimately led to the destruction of major economic institutions through collusion of gangs operating covertly within the branches of this historic public institution.

The investigations revealed shocking facts about granting unjustified privileges in contracts and agreements related to transportation, bus, truck, and equipment leasing, alongside serious violations in contracts related to purchasing ferrous and non-ferrous waste and importing coal, causing the public treasury to incur huge amounts in local and foreign currency. This led to illicit enrichment and money laundering through the accused purchasing real estate, apartments, and opening bank accounts domestically and abroad.

The investigations also concluded that the “El Hadjar” units and workshops were deliberately sabotaged and disabled, causing huge losses, in addition to serious violations occurring at the complex under the protection of “Imetal” and “Sider” officials, where subcontracting companies exploited the complex’s resources to obtain billions unjustly.

The investigating judge of the eighth chamber at the Economic and Financial Criminal Court ordered on March 12, 2023, the provisional detention of the CEO of the public group “Imetal”, known as “T.B.”, who died in prison on July 4, along with four other officials, including the CEO of “Sider” “F.K.”, who are prosecuted along with 17 others in a heavy corruption case affecting the “Iron Giant” in Algeria. The case involves collective administrative and financial embezzlement by a group of corrupt individuals inside and outside the “Imetal” group and “El Hadjar” complex, who exerted pressure and blackmail to seize public contracts locally and internationally.