Suspect Held Over Alleged Laundering of EGP 13 Million From Electronics Company Fraud

Egyptian authorities have detained a suspect accused of laundering EGP 13 million allegedly obtained through fraud targeting an electronics company.

The General Administration for Combating Public Funds Crimes took legal action against the suspect over the alleged laundering of the proceeds.

The administration, part of the sector responsible for combating public funds crimes and organised crime, coordinated with the relevant Interior Ministry agencies.

The brief account did not identify the suspect or the company, or provide details of how the alleged fraud and money laundering were carried out.