Stock brokerage referred to Egypt’s prosecution

The Egyptian Financial Supervisory Authority has referred al-Naeem stock brokerage company to the prosecution on charges of manipulating the prices of certain stocks.

Former Authority President Ahmed Saad, who now serves as an adviser to the authority’s current president, had worked for al-Naeem before, which suggests a clear conflict of interest.

Saad is also accused of using his power to protect the company.

Translated from the Arabic Edition

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