Five Arab African Bank employees detained on embezzlement charges

CAIRO: Five employees of the Arab African Bank were detained for 15 days pending an investigation into charges of embezzling money from bank clients’ funds and deposits.

The investigation revealed that the alleged criminals are involved in exploiting the bank to put their hands on 3 million EGP (US $434,000) of clients’ funds by falsifying papers.

The prosecutors charged the criminals with forging official papers and stealing clients’ money, but they all denied the charges against them, stressing that they have nothing to do with the incident under investigated

Public Funds investigators had received information that an employee in the Arab African Bank had embezzled money, and immediately a team of Public Funds investigators and officers rushed to check the credibility of the accusation, and investigation revealed the information was true. Then, police officers made a number of ambushes and managed to arrest the employees.

Translated from Youm7.

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