The Attorney General’s Office reported last Wednesday that the Public Prosecutor has ordered the detention of the official of the Hotel Development Company, owned by the Libyan Company for Foreign Investments, for a € 37 million contract fraud.
It reported that the results of the examination of the company’s manager’s treatment of the Oran Bay Hotel rehabilitation project (the hotel formerly branded as a Sheraton Hotel in the Algerian city of Oran), the investigator inferred that the official abused the authority of their job for the benefit of others.
This the official did by deliberately disbursing € 34,509,500 for the benefit of one of the implementation agencies, and € 2,780,125 for the benefit of a consulting office. This, the Attorney General’s report said, despite the fact that the completion rate of the project did not exceed 2 percent, while amounts equal to 70 percent of the project value were spent.
Additionally, the official approved the maintenance price of each room in the hotel to the amount of € 275,540, knowing that the maintenance cost for each room does not exceed € 80,000.
The accused thus contributed to others obtaining material benefits, which resulted in his detention, pending investigation.
