A parliament member from Egypt's ruling National Democratic Party has been remanded in custody for 15 days on graft charges after the lifting of his parliamentary immunity last month, judicial sources stated on Monday.
Abdullah Abdel Fattah Tayel, chairman of parliament's economic committee and a former director of Misr-Exterior Bank, was charged with "personal enrichment and facilitating the embezzlement of public money," the sources expressed.
He is specifically accused of having "granted loans without guarantees to businessmen and some government personalities," and having "speculated on the dollar with bank money."
Moreover, the MP is accused of having "ordered bank employees to consider loans of 1. 5 billion Egyptian pounds (around 300,000 dollars) as unrecoverable debts," after obtaining the sums through fake firms belonging to his sons and relatives, AFP reported.
Tayel had been free on 20,000 pounds (some 4,000 dollars) bail, although his assets had been frozen. (Albawaba.com)
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