Egyptian businessman blackmails Algerian customers

Scandals of Egyptian operators in Algeria continue to appear as they practice currency trafficking and blackmail the Algerian people under the cover of investment. Even banks were not safe from fraud attempts to get unreal project loans in the industry and fishing boats import sectors.

• An Algerian investor was victim of boats manufacturer Marine Egypt as he trusted it and paid 2.4 billion centimes to get a fishing boat. He was happy with this “lucrative deal” as Europe-made boats prices were higher than the Egypt-made ones.
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• The man was shocked as the ordered boat had no engine and was no more than an old wooden structure. There were religious books on it as a gift from the company.
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• The Egyptian manufacturer promised the Algerian man to bring another boat or to give him his money back but the whole issue was no more than deception. He found himself not allowed to claim for compensation neither had he the right to sue the company.
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• The same manufacturer blackmailed another Algerian man in a fishing boat-related deal. The victim lost 400 million centimes in unreal deal but he did not get any boat.
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• More than 4 Algerian investors were cheated by the Egyptian company in the fishing sector.
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• Banking executive blackmailed
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• Marine Egypt tried to dupe a retired banking executive at the Exterior Bank of Algeria. He was asked to help the manufacturer in getting additional 2 million euros in a loan. As the Algerian executive refused to do that, the Egyptian operator started blackmailing him using a cheque on fishing boat purchase.
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• A video tape shows how the Egyptian operator was blackmailing the man to get the additional money.