Owner of Egyptian dairy giant Juhayna given jail term

Ahram Online, Thursday 6 Mar 2014

Safwan Thabet, who is not in Egypt currently, was given a 1 year sentence

Safwan Thabet
Safwan Thabet, the chairman and owner of Egyptian dairy company Juhayna (Photo: Al-Ahram)

Safwan Thabet, the chairman and owner of Egyptian dairy company Juhayna, was given a one-year sentence in absentia on Thursday for producing products that do not meet market standards.

Cairo Misdemeanour Court set bail for the Egyptian business tycoon at LE1,000 ($144) and fined him LE10,000 ($1,437). Bail is granted in some Egyptian court cases during the appeal process.

“I know nothing about the verdict or the case. I am not even in Egypt,” Thabet told Ahram Online by phone on Thursday.

In December, Egypt’s prosecutor-general imposed a travel ban on Thabet for being involved in corruption.

In 2012, a court in Egypt’s governorate of Kafr El-Sheikh sentenced two employees from Juhayna to a year in jail for watering down milk.

Juhayna, Egypt's largest dairy company, posted net profits of LE328.3 million ($47.16 million) in 2013, up 0.9 percent compared to the year before.

The company, which employs more than 4,600 workers, has 209 different products on supermarket shelves with the industrial capacity to yield a total of 2,900 tons of product per day.

 

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