Egyptian Financial Crimes: Scammers Exploit Business Investments and Real Estate

In the shadowy world of financial crimes, Egypt has become a breeding ground for scammers who prey on unsuspecting investors. One of the most common schemes involves disguising theft and fraud as legitimate business investments or real estate deals. This trend is not only causing significant financial losses for victims, but also implicating them in criminal activities.

Business Schemes: A Favorite Target for Scammers

Business schemes in Egypt are a favorite target for scammers. These criminals officially register a new company, either in the investment or real estate sectors, offering seemingly lucrative opportunities to investors. However, these financial brokerage markets are not only unregulated, but also illegal. The Egyptian government has frequently shut down these companies and apprehended their owners.

Common Scams and How to Avoid Them

1. Bitcoin Trading Profit

Be aware that investing in bitcoin trading through an unauthorized brokerage firm carries a high risk.
Once the firm is closing down, you stand to lose all your money without any compensation.
The owners may attempt to evade authorities or be sentenced to prison.
In such cases, you could be unknowingly participating in a criminal enterprise.

2. Illicit Trading Markets

Educate yourself about the illegality of trading markets in Egypt.
Brokerage firms are unlikely to return your money if they are operating without proper authorization.

3. False Property Deals

Buying properties without proper documentation or not adhering to legal procedures significantly increases the risk of falling prey to scams.
Be cautious if you have signed a contract with a brokerage firm for an apartment in resort towns like Hurghada or Sharm-El-Sheikh, without undergoing the standard buying process.

4. Unauthorized Export Products

Be aware that buying export products from companies not on the official list of authorized Egyptian exporters can result in financial losses.
Ensure that you have thoroughly checked the seller’s official documents before making any payments.

5. Co-owner Deals with Non-known Firms

Be cautious when entering business deals with co-owners from unestablished Egyptian firms.
Especially if there are any signs of doubt or ambiguity concerning the agreement.
Always ensure that official documentation is signed and legalized to protect yourself from potential scams.

Seeking Professional Advice

If you believe that you may have inadvertently entered into a fraudulent investment scheme, consider seeking professional advice from experienced attorneys and legal consultants. Their expertise will help you navigate the complexities of the Egyptian legal system.

Consultations and Fees

Personal consultations with our team of expert attorneys and legal consultants are available by appointment in our office. Our professional advice fees start at 700 EGP per 30 minutes.

Protect Yourself

Make informed decisions, protect your interests, and avoid becoming a victim of financial fraud in Egypt.