Egypt: $1 million embezzled from public electricity company

Posted on Monday, 11th February 2019 @ 01:38 PM by Text Size A | A | A

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Egypt’s Prosecutor-General has referred two defendants to criminal trial on charges of embezzling 19 million Egyptian pounds ($1.08 million) from the state-owned Egyptian Electricity Holding Company.

The investigation has revealed that the first defendant – a civil servant responsible for bill collection from major subscribers – embezzled the sum in question from subscribers’ charges. The money was given to him so he would deposit it in the company’s treasury, but he instead took it for himself.

The second defendant works as an administrative officer in a private university – the Modern Academy for Computer Sciences and Management Technology. He is responsible for dealing with government agencies and companies and for issuing payment checks on the university’s behalf. The defendant is accused of complicity in the crime for aiding the civil servant, in return for taking part of the embezzled sum for himself.

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