Two Suspects Questioned Over Alleged EGP 60 Million Laundering Scheme

Prosecutors are questioning two suspects accused of laundering nearly EGP 60 million in proceeds from alleged illegal activities, including unlicensed trading in firearms and ammunition.

The investigation concerns allegations that the pair used legitimate business activities to conceal the illicit origins of the funds.

According to the allegations under investigation, the money was channelled through several business fields to disguise how it had been obtained. The supplied details did not identify those fields.

Unlicensed arms and ammunition trading is described as a principal source of the alleged proceeds, though the accusations also refer to other unlawful activities.

The suspects remain under questioning. No further details were provided about their identities or the outcome of the investigation.