14 Hrs
Source:
CNN Arabic
Egyptian principal held over unauthorized parent loans
The Egyptian Public Prosecution has ordered the preventive detention of the Chairman of the Board of an international school in New Cairo, on charges of obtaining credit facility loans in the names of parents without their knowledge or consent. Investigations revealed that the accused contracted with a financing company to secure 839 contracts worth a total of 321 million Egyptian pounds (approximately 6.31 million USD), using forged copies of parents’ IDs and signatures. The incident resulted in harm to parents who had not applied for these loans. Additionally, the Ministry of Interior issued a decision to detain the school owner, who confessed to the crime.
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