Beggar arrested with 1.2M EGP in cash

CAIRO: A total of 1.2 million EGP ($158,110,) was found with an at-large convict at Luxor train station in southern Egypt Friday as he was begging, MENA reported.

Sherif M., 40, is originally from Alexandria, northern Egypt, and was convicted two robbery and begging cases. He bore no ID at the time of arrest and said he had collected the money from begging.

In January 2014, an official at a brokerage firm discovered that one of his clients is a beggar and who has been depositing about 10,000 pounds per week until his bourse portfolio hit 400,000 pounds in one year, according to MENA.

The official, who spoke on condition of anonymity, told MENA on Wednesday that saw the client one day begging in one of the streets in Heliopolis.

The beggar, 60, deposits money three times per week, until he made a fortune of 400,000 pounds. But he lost about 70 percent of his cash because of jittery purchases, the official said.

Recommend to friends

Leave a comment