Egypt arrests gang working in the Civil Aviation Ministry for illicit foreign currency trading

MENA , Thursday 7 Mar 2024

The Administrative Control Authority (ACA) has busted a gang of employees of the civil aviation sector for their involvement in illicit foreign currency trading, embezzlement, profiteering and abuse of public funds.

ACA building
File Photo: ACA building.

During auditing to ensure the accuracy of reporting by these employees on the state's revenues from collecting fees for services offered to travellers on national airlines a manipulation of foreign currency was detected.

After a probe carried out in coordination with the Civil Aviation Ministry, ACA investigators revealed that 18 officials had taken foreign currencies paid by the travellers at a value of about one million dollars, sold them in the parallel market and deposited the cash money in the treasury in the local currency. They made financial gains from the difference in the value of the dollar in the official and the black markets.

The top prosecutor issued arrest warrants for the employees, who were found in possession of sums of money in different currencies.

The Public Prosecution issued a decision to hold them in pre-trial detention, pending further investigations.

The move is part of painstaking efforts by the state bodies to combat acts of corruption.

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