15 Egyptians in the Dock for Embezzling Public Funds
Egypt’s prosecutor general plans to refer 15 Egyptians to the state’s Higher Security Court on charges of embezzling and otherwise misusing 68.5 million pounds in public funds, reported the London-based, Ashark Alawsat, Arabic daily on Thursday.
It said six of the accused are public sector officials now in detention, while the remaining nine, who have fled the country, are reportedly businessmen from Alexandria.
The defendants have also been accused of forging official marketing bureau documents.
The daily said the accused faced life imprisonment, adding that investigations showed that they had helped the owners of several private companies steal money from a public sector company by virtually giving away the firm’s products in exchange for bad checks.
The paper said this activity violated bylaws that prohibit dealing with new clients before investigating them. The officials simply accepted checks from the clients, which later bounced. The value of the goods involved amounted to 68.5 million pounds - Albawaba.com