Currency Trader Arrested with Foreign and Local Currency Before Circulation in Giza Black Market

Security forces at the Giza Security Directorate arrested a person in possession of large sums of foreign and local currencies for engaging in illegal foreign exchange trading outside the authorized banking market. His aim was to achieve illicit profits and harm the national economy through exchange rate speculation.

Information and investigations by the Public Funds Crimes Combat Sector confirmed that the defendant was practicing his illegal activity, using the Dokki Police Station district as a venue to meet his clients and exchange money at rates exceeding the official announced prices. Tight ambushes were set up, during which he was caught while in his car in possession of multiple cash sums.

During preliminary investigations, the defendant confessed to practicing currency trading and exploiting the need of some individuals for foreign currency to complete deals outside the official banking system. The seized amounts, the vehicle, and the mobile phone used for communicating with clients were confiscated, a report was filed, and he was referred to the Public Prosecution to initiate judicial investigations.