The Egyptian security forces arrested a Syrian national and others on charges of trading in foreign exchange outside the banking market with the help of others of different nationalities, and the Egyptian prosecution continues the judicial procedures.
The General Department for Combating Illegal Trafficking Crimes was able to arrest a Syrian businessman and 4 Egyptians in an incident of illegal trading in foreign exchange outside the country, as information was received by the Egyptian security services stating that the accused had carried out illegal trading in foreign exchange and transferred funds outside the country outside the banking system.
The prosecution’s investigations revealed that the first defendant, Samer, is a Syrian, and owns a clothing factory that trades in hard currency through the clearing system with the help of others outside Egypt.
The “clearing system” is established by the meeting of persons outside the banking system, and the exchange of currencies between them, which is considered trading in foreign currencies punishable by law in Egypt.
The General Directorate for Combating Public Funds Crimes raided the accused’s factory, where it found papers and documents indicating aspects of spending the proceeds of the activity, such as sales and purchase contracts for real estate and vehicles, and his bank dealings.
Inside his house, a bag was found containing 21,000 Egyptian pounds, 7,830 US dollars, 18,000 Saudi riyals, and 3,450 Turkish liras.
The accused admitted that he participated with others residing in the State of Kuwait, in collecting the savings of workers in the State of Kuwait who wished to transfer their money to their families inside Egypt outside the scope of the banking market, and transferred it for the benefit of merchants and importers in Egypt through a third party “a company in Lebanon” and from there to the accounts of the company of the main defendant in the case.
The first accused used his driver to carry out his crimes, as he instructed him to receive money in Egyptian pounds from merchants and importers wishing to transfer their money abroad, “make clearing” at the black market rate, and then send it to the company’s other accounts in Lebanon.
In addition to the five arrested, the Public Prosecution ordered the arrest and bringing of 7 others.
