Our New Egyptian Madoff

Egypt has seen too many Madoffs in the last 25 years thanks to the greed of the people and their stupidity too.
The most famous Egyptian Madoff of all time was El-Riyan ,it was the Ponzi scheme of the 20th century in Egypt taking in consideration we had never seen something like it before. Not only the rich people were deceived but mainly the middle Class who trusted a man claimed to fear God was the majority of the victims. El-Riyan used religion in order to seal the deal. He claimed that he was invesingt the people's money according to the Islamic economic system where as he used to invest that money for his own profit in the London and Wall street stock markets and that was how he lost those millions.
His victims are thousands and as I said were from the middle class who were trying to save money for the future. In the end El-Riyan is in jail up till now and his victims were not companasted as they should.
As I hinted before there are several Madoffs Egypt has seen , last year there was that famous Crock of Nasr City who took millions of dollars from the people and escapted to the US. His victims believe it or not went after him to the States .strangely the case was a hot meal to the Press as the son of the minister of the economic development was involved in it. of course the minister's son got away from it
Anyhow I think this year 2009 ,we have a new Madoff , yes last month there were small  Madoff but they are not like this Madoff , just like the Madoff of the US he got one hell of a list of clients who lost lots of money.
Our 2009 Local Madoff is businessman Nabil El-Boshi. He was arrested in Dubai thanks  to an Emirati Lady Egyptian Lady who turned to be the famous TV hostess Nashwa El-Rounay ,she is said to invest $40,000. She is another Nashwa, a Businesswoman whom he took millions from.

As soon as the news came from Dubai several Egyptian businessmen in Egypt informed the General prosecutors that they were victims of El-Boshi too and that he must be extradited in order to be trailed in Cairo. He will be extradited to Cairo soon through the intropol. The general prosecutor decided to sieze his wife and offspring's money also their properties.

El-Boshi got total sum of $ 200 Million through fraud;$48 million from Emirati Business
Youm 7 published a list of some of his well known victims and you will be amazed to find names of Businessmen and society icons that do not need to invest their money in this way.
For instance :

• Hassan El-Gabli" The brother of Dr. Hatem El-Gabli, the current health minister" : L.E 12 Million ,it is being said because of El-Gabli El-Boshi was brough back to Egypt.
• Mahmoud El-Khatib "The famous vetern footballer and the current vice chairman of  Al Ahly Club" : L.E 5 Million.
• Laila Alawi " The beautiful Cinema Star and the wife of businessman Mansour El-Gamal" : $ 640,000 " Of course also her connections can help her to get El-Boshi , already her loss is more than one Million pound"
• Marvet Amin " Another beautiful Cinema star" :$700,000
• Ahmed Mokhtar El-Rashdy : $ 2.3 Million , I think this gentleman is related to El-Rashdy family in the food industries.
• Madhat Hassan Dora : $ 2 Million , ok Hassan Dora was once like Talaat Mustafa

There are other victims who paid to El-Bushi by Euro not even by US $. Of course those people of course should not blame anyone except themselves. How many times that kind of investment was recongized as dangerous after all what kind of investment that will bring a return equal to 1150%.
 It is greed I am afraid , they are not satisifed with all those millions they have and they want more !!

Update#1 :

• It seems that Hatem El-Gabli is not the only minister involved in our Egyptian Madoff scandal , Amin Abaza ,the  minister of Agriculture who believes golf courts are more important than agricultural land is directly involved in the scandal.
• Amin owns or used to own the company where El-Bushi was a the managing director "Optima Global Holdings"
• Already according to my resources Amin Abaza is a very close fried to Fakery Badr El-Din, the second man in the company "Under Arrest now" , they were together in the faculty of economics and political science ; Cairo University ,Class 79 to be accurate.
• Of course he defends himself and he will get away from it, Abaza Claims that he left the company as soon as he became the minister and even before he claimed that he was a non-executive managing director