Egypt prosecution orders 4-day detention of 14 suspects in FBC fraud scheme - Courts & Law
The Public Prosecution ordered Thursday a four-day detention of 14 suspects in the FBC online fraud scheme.
Related Egypt arrests 13 suspects in FBC online fraud scheme
According to the prosecution's statement, the suspects include 12 Egyptians, one Chinese, and one Japanese. Investigations revealed four of them had appeared in promotional videos for the FBC platform.
The prosecution also seized around EGP 1 million in cash and several mobile phones, computers used to manage the platform, and 1,135 SIM cards prepared for activating digital wallets to receive funds.
Additionally, the prosecution seized the suspects' assets and directed the Egyptian Computer Emergency Readiness Team (EG-CERT) to examine the seized devices and analyze the platform's website link.
The prosecution also tasked law enforcement authorities to arrest the remaining fugitives, with investigations ongoing.
According to the prosecution's statement, 310 citizens have filed complaints, with reported losses exceeding EGP 8.2 million – a figure significantly higher than initial estimates.
Through its investigations, the prosecution confirmed that the platform's administrators had collected funds from citizens through digital wallets.
It identified those administrators and some of these digital wallets' numbers and ordered the seizure of the transferred funds.
Additionally, the prosecution reviewed circulating promotional social media videos for the platform and identified the individuals who appeared in them.
The platform administrators claimed that a cyberattack rendered the service inoperable and that they had reported the incident to the EG-CERT.
However, this claim was denied by the National Telecom Regulatory Authority (NTRA).
On Monday, the Ministry of Interior arrested 13 suspects involved in the incident.
The FBC fraud scheme is an online scam that has deceived Egyptians by promising quick profits through fake investment opportunities.
The platform claimed to be a licensed international entity. To attract investors, it used social media and a "pyramid-style referral system."
The FBC scam is part of a larger trend of online fraud schemes that have emerged globally.
Notable cases include the White Sands scam in 2022, which deceived millions of Egyptians, and HoggPool in 2023, which defrauded victims of billions.
Follow us on:
Facebook
Instagram
Whatsapp
Short link:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Egypt Today
21 hours ago
- Egypt Today
Egypt continues inspection tours of sacrificial animal markets during Eid Al-Adha
File- A boy waits for customers at a cattle market in Al Manashi village, ahead of the Muslim festival of sacrifice Eid al-Adha, in Giza, on the outskirts of Cairo, August 8, 2019. REUTERS/Mohamed Abd El Ghany CAIRO – June 7, 2025: Inspection committees assigned by Egypt's Ministry of Agriculture and Land Reclamation continued their field visits on Saturday to markets selling sacrificial animals and meat, as part of ongoing efforts to ensure safety and raise public awareness during Eid Al-Adha celebrations. In a statement, the Ministry said that the inspections aim to verify the health of animals being sold for sacrifice and to educate citizens on selecting appropriate livestock. Alaa Farouk, Minister of Agriculture and Land Reclamation, has been personally monitoring the activities of the committees, which are operated by the Ministry's Animal and Poultry Wealth Development Sector in coordination with the General Authority for Veterinary Services. Minister Farouk stressed the importance of continuous oversight of all animal markets and stalls to guarantee the safety and well-being of sacrificial animals throughout the holiday. He also emphasized the availability of technical guidance to help citizens make informed choices when purchasing animals for sacrifice. The Minister further highlighted the need to reduce random slaughtering in public streets, both to preserve environmental cleanliness and to ensure the safety and quality of the meat. He urged citizens to utilize the nearest government-operated slaughterhouses, which are offering free slaughter services throughout the Eid holiday. These facilities also conduct veterinary checks and visual inspections of livestock before slaughter. On the first day of Eid Al-Adha, a time when hundreds of thousands of Egyptians perform the ritual slaughter of livestock, Cairo Governor Ibrahim Saber issued a warning against slaughtering animals in public streets and leaving behind waste. He confirmed that environmental violation reports would be filed against offenders, with fines reaching up to EGP 10,000 (approximately USD 202) for those who leave animal waste or blood in public areas. The Governor also announced that all government slaughterhouses in Cairo will remain open around the clock during the holiday to accommodate citizens' sacrificial animals free of charge.
Egypt Independent
2 days ago
- Egypt Independent
Tragic accident claims lives of 3 family members on eve of Eid al-Adha
Three members of the same family tragically died Thursday evening, after the car they were traveling in overturned near Future City in Ismailia Governorate, Egypt. Ambulances swiftly transported the bodies to the morgue of Ismailia General Hospital, where they remain under the Public Prosecution's investigation into the incident's circumstances. The horrific accident, which unfolded on the eve of Eid – a time typically filled with joy and celebration – has sent shockwaves through the governorate. An investigation is now underway to determine its causes.
Egypt Independent
2 days ago
- Egypt Independent
Egyptian delivery driver arrested for murdering Saudi professor, multiple stabbings of wife
Saudi Arabia has announced the arrest of an Egyptian national within the Kingdom on charges of murdering a Saudi citizen. The media spokesperson for the Eastern Region Police stated that security authorities arrested an Egyptian resident for killing a citizen in the city of Dhahran and assaulting his wife with multiple stabs, noting that she is in critical condition. The media spokesperson clarified in a statement via the Public Security account on the X platform that initial investigations revealed a prior interaction with the victim, and that the motive for the crime was theft, due to financial claims against the perpetrator in his home country. The Eastern Region Police indicated that the accused has been apprehended, legal procedures are being taken against him, and he has been referred to the Public Prosecution. Al Arabiya, via the X platform, reported that an Egyptian delivery driver broke into the home of Dr. Abdul Malik Qadi, a former professor at King Fahd University of Petroleum and Minerals, killed him in his wheelchair, and stabbed his wife.
