An Egyptian man has been sentenced to 1,000 years in prison after being convicted of laundering over 280 million Egyptian pounds (U$52 million).
An Egyptian man has been sentenced to 1,000 years in prison after being convicted of laundering over 280 million Egyptian pounds (U$52 million).
Abdullah Kamel Mohamed, 42, was handed the sentence by a Giza court for scamming at least 480 people out of their money for several years, a court official said here Friday.
“He would promise people that he would invest their money for them and bring them good profits, but he would take the money and disappear,” an official close to the case said, although he was not authorised to speak to the media.
“Over the years, he made 280 million pounds,” the official added.
Capitalising on the economic difficulties in Egypt, Mohamed lured many to part with their life savings with the false promise of a better future.
He was arrested in Cairo last November after a neighbor recognised him as the man who had conned him and called the police.
It is unclear whether Mohamed will be eligible for parole. Panapress .
