Follow Up : our Egyptian Madoff

Our Egyptian Madoff is still making headlines in our media and sure he deserves so with his A list clients,the millions he stole and the interesting facts of his background.

Oh yes his background and to be accurate too his education background, it seems that the man who claimed to the President’s economic adviser “going to speak about this later” did not have a university degree !!

The General prosecutor ordered the sequestration of his and his business part Fakery Badr El-Din’s banks’ accounts in Egypt and properties along with their wives and children’s banks’ accounts and properties. The general prosecutors also ordered the Egyptian banks to reveal their secret bank accounts.

That order includes El-Bushi second wife from Morocco who claimed to be divorced by him. Of course the victims’ attorneys brought evidence that she was still his wife. El-Bushi reportedly bought for her a palace in Paris.

There are news circulating in Egypt that El-Bushi has Zero bank accounts in Egypt and all his bank accounts are in Canada!! He is still in Dubai. It seems that he paid from his Emirati clients only.El-Bushi has an American Passport and it is feared that he would escape to the States like the Crock of Nasr City last year.

From Dubai it turned out that there are some interesting facts:

1//Optima Global holding Dubai was not registered in NASDAQ Dubai!!

2// The Economic experts in Dubai believe that he lost his money in Forex based on the fact that he used to give the victims 40% annual return, this is a very high return.

Now regarding to Mubarak’s economic adviser. El-Bushi photoshoped a photo of him with President Mubarak and made it look like a photocopy from Al Ahram Al Iktisadi weekly economic magazine.Of course some people believed that trap after all this is an Al Ahram publication. The fake report recognized El-Bushi as the President’s technical adviser of investment !!!! This is a very silly unrealistic position name , not to mention the financial advisers of Mubarak are never announced by name like that unlike his political advisers !!

That wasn’t his only tricks. He had other fake reports showing being appointed in the international bank and that he was a candidate to a high economic position in Egypt based on Gamal Mubarak’s statement !! It is strange because despite Gamal Mubarak is involved in every aspect of our political and economic life he is wise enough not to announce the candidates of political or economic positions for the time being.

Essam Rafaat the chief in editor of the well known and the oldest economic magazine in Egypt denied totally that he published such news , I do not need to hear him saying that because the titles of these fake reports are so comic !!

Check the fake reports here :

I believe that El-Bushi was wise enough to use that fake reports with certain people , he would not use it for instance for Laila Alawi whose husband is the uncle of GM’s Wife.

By the way I believe El-Bushi was a NDPian and they do not want to announce it.Well it won’t be the first time.

Now I should like to hint that there are many of his victims in Egypt that did not report to the authorities for fear of taxation ,yes my dear reader many of them have not paid their taxes and fear of the consequences now. Already some of them gave the money directly with no documentation what so ever !! Yes can you believe it ??

I have one sentence to say

The laws does not protect fools

Photos sources : Youm7

By the way did anyone our popular TV host in the National TV Tamer Amin was among El-Bushi’s victims !!

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