Egyptian employees embezzle billions of dollars with forged seals

CAIRO - 2 March 2017: Seven Egyptian governmental employees are accused of forging the state’s official seals and using them to embezzle billions of dollars from citizens’ bank accounts,

Youm7

reported Thursday.


The prosecution accused the defendants of forgery and fraud and the seizure of citizens’ money using false documents. The authorities confiscated 23 forged seals belonging to governmental authorities, consulates and courts and the seal of the Egyptian presidency.


Investigations revealed the defendants had also gathered the seals of the Egyptian financial supervisory authority, a number of embassies, Cairo University, the General Directorate of Examinations under the Ministry of Education and the state emblem used by the ministers of Justice and Supply, among others, according to Youm7.


The Egyptian administrative control authority arrested the defendants Tuesday in the midst of cashing millions of dollars from clients’ bank accounts.


The defendants are employees at the Egyptian Financial Supervisory Authority and other governmental entities.