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البوابة
Egyptian Scam Involving Fake School Loan Contracts
Parliamentary investigations in Egypt have revealed a scam involving fictitious contracts for educational loans. An international school in New Cairo signed 839 contracts totaling approximately 321 million Egyptian pounds using the personal data of individuals who did not agree to the financing. This was done by exploiting images of national ID cards and signatures without the owners' knowledge, leading to the recording of fake debts in parents' credit records. The prosecutor’s office ordered the detention of the school's board chairman and continued the investigation. Meanwhile, the financing company considered the mistake to be internal and unintentional. However, the prosecutor transferred the case to a criminal investigation due to the volume of contracts and the nature of the documents involved.
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