Public Prosecution issues decision following fraud at New Cairo school

The Public Prosecution in Egypt has announced new measures against individuals suspected of fraud at the Global Paradigm school in New Cairo, following an investigation into the unauthorized receipt of funds in the names of parents, as reported by RT on Monday. The prosecution ordered the temporary freezing of personal assets of several suspects and their families while they await further investigation.

The decision involves the school's owner, several shareholders, administrative staff, and key executives from a consumer finance company.

According to the prosecution, the investigation revealed that the school owner, along with the executives at the finance company, facilitated the misappropriation of company funds for the benefit of the school. Additionally, several administrative employees forged parents' signatures on documents related to loan approvals. The investigation was prompted by parents who discovered loans and credit facilities registered in their names without their knowledge or consent, leading to negative impacts on their credit records.

Initial findings indicated that the school's board chairman entered into 839 credit facility contracts, totaling approximately LE 321 million, using personal information, identification documents, and forged signatures. The finance company was contracted by the board chairman to obtain these credit facilities on behalf of the parents.

President Abdel Fattah al-Sisi intervened after receiving appeals from parents, ordering an investigation and tightening oversight to prevent similar incidents. The Minister of Education placed the school under financial and administrative supervision to ensure the continuity of education and protect the rights of students and parents during the ongoing investigations.