Egypt Daily News – On Monday, Egyptian authorities revealed details of the arrest of suspects involved in fraud and scams through an online platform called “FCB,” noting that three foreign nationals led the fraudulent operations from abroad.
The Egyptian Ministry of Interior released a photo featuring 11 men and a woman, along with a statement outlining the nature of the crimes the suspects are accused of committing.
The ministry stated that it had arrested “13 individuals as part of a criminal network led by three foreign nationals outside the country, specializing in online fraud and the embezzlement of citizens’ money.”
Authorities reported receiving complaints from more than 100 citizens since February 22 regarding financial losses linked to the “FCB” platform. The victims claimed they were deceived under the pretense of investing in software and digital marketing.
According to the statement, the three individuals based abroad coordinated with 11 others inside Egypt to establish a company in Cairo. Their goal was to promote the platform via social media and WhatsApp in exchange for financial commissions.
Victims explained that the fraudulent scheme operated by requiring initial payments before granting profits. The company encouraged users to invest larger sums, promising greater returns the more they invested.
Local reports indicated that the platform offered a subscription-based investment system, allowing users to choose from different investment packages. One such package, available to Egyptian users for 11,200 Egyptian pounds (approximately $200), promised a daily profit of 490 pounds along with a bonus of 5,000 pounds.
As users began receiving their earnings, public trust in the platform grew. However, things soon took a different turn. When users attempted to withdraw their funds, they found themselves unable to do so. The company claimed the issue was due to “high user demand on tasks.”
Shortly afterward, the platform suddenly shut down. Its management alleged that it had suffered a cyberattack and assured users that the issue would be fixed—yet no resolution came.
On Monday, Egyptian newspapers reported the arrest of one of the company’s operators in Beheira, a governorate in northwestern Egypt. The suspect, identified as “Ahmed A.” (36 years old), was found to be working as a tuk-tuk driver.
Authorities also discovered that multiple reports had been filed against him across several neighboring governorates.
