Former Egyptian Lawmakers Face Imprisonment in Corruption Case
The saga of several former Egyptian lawmakers accused of corruption dragged on Sunday, as the Egyptian State Higher Security Court convened to hear the prosecutor general’s arguments.
The prosecutor general’s office advisor, Mohammed Khairiddin, confirmed that defendant and bank employee Aliyyah Al Ayouti had given her husband, a former parliamentarian, loans amounting to $74 million despite the fact that she was authorized to extend a maximum of $8 million.
The loans were also provided to the former lawmaker without any prior credit investigation or accounting records, which constituted a violation of banking laws and regulations.
The lending bank’s manager, Eissa Al Ayyouti, and defendants Mohyiddin Mansour and Ali Mathanah reiterated that they had neither been authorized to provide loans nor to settle the debts of the accused clients.
Public Funds prosecutor general Mohammed Noor said that this case had shaken the national economy and the credibility of the banking corporations because it reflected the abuse of the country’s resources.
The prosecutor general demanded severe punishment for the defendants including imprisonment, a billion dollar fine and the firing of the bank employees involved.
He insisted that the defendants should receive a punishment equal in magnitude to the corruption they were involved in to reflect public anger over the case – Albawaba.com