Egypt refers bank official to trial over embezzlement of Kuwaiti ex-official’s funds

The Egyptian Public Prosecution has referred a bank official and an accomplice to criminal court on charges of embezzling money from the account of a former senior Kuwaiti official.

According to Egyptian media sources, the two defendants are accused of unlawfully seizing more than 15 million Egyptian pounds from the Kuwaiti official’s Egyptian bank account.

The charges include forging an application for an investment certificate valued at $309,800, which they allegedly used to withdraw the funds.

The authorities stated that the forgery extended to official bank documents, including account statements and deposit and withdrawal receipts, in an attempt to obscure the embezzlement.

These falsified documents were reportedly used to conceal the illegal transactions and mislead internal records.

The case has drawn attention due to the involvement of high-level financial misconduct and the targeting of a foreign national’s account, highlighting ongoing concerns about financial fraud and accountability within the banking sector.