Son of famous businessman Safwan Thabet detained on terrorism financing charges

CAIRO – 6 February 2021: The investigation authorities ordered detaining son of famous businessman Safwan Thabet, Seif, for 15 days pending investigation, on accusations of funding terrorist entities.

Seif Thabet is accused of making an agreement with leaders of the outlawed Muslim Brotherhood group to hold meetings, where they agreed on putting alternative plans to maintain financing.

The new plan aims at harming the state’s national economy, through smuggling foreign coins from the country to abroad and working on destabilizing the dollar exchange rate.

Safwan Thabet, the father, CEO of the Juhayna Food Industries company, has been also detained since December last year.

Charges Safwan Thabet is facing similar charges, including joining an outlawed group, calling for unauthorized protests, inciting violence and financing a terrorist group.

In December, authorities also arrested and detained Sayed Sowerky, owner of the giant retail chain El-Tawheed wel Nour.

Sowerky is accused of inciting violence, joining an outlawed group, financing a terrorist organization and other charges.