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Issuing bounced checks is a criminal offense
The news concerns the legal penalties related to issuing a bounced check in Egypt. According to Commercial Law, anyone who commits the violation of issuing a non-payable check is punishable by imprisonment and a fine of up to 50,000 Egyptian pounds. The penalty can be increased to 200,000 pounds if the violation is repeated within five years of a final judgment. Violations include issuing a check without sufficient funds, recovering the balance after issuing the check or disposing of it in a way that causes insufficient funds, issuing or executing directives to prevent the check from being cashed except in legal cases, and signing with malicious intent to prevent payment. Additionally, anyone who knows they do not have sufficient funds to cover the full amount and transfers ownership of a non-payable check or hands it over to a holder aware of the lack of funds can also be punished. The injured party or their representative has the right to request reconciliation with the accused, which results in the discontinuation of the criminal case, and the suspension of the sentence if reconciliation occurs during the proceedings.
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