Egypt’s Administrative Control Authority (ACA), in co-operation with the Ministry of Interior, has arrested a criminal ring of 23 people accused of illegal trade in foreign currencies, Ahram Online reported Tuesday (March 26th).
The ACA said the suspects were involved in black market transactions exceeding 100 million Egyptian pounds ($5.7 million).
The authority said it has seized 20 million Egyptian pounds ($1.15 million) worth of currency in Egyptian and foreign currencies.
The ring operated in Cairo, Giza, Sharqiya and Daqahliya.
The ACA said the arrests are part of continued efforts by the state to combat monetary crimes in accordance with the directives of President Abdel Fattah al-Sisi.
