As part of the Ministry of Interior’s efforts to combat commercial fraud, particularly in the trade of smuggled and unlicensed precious metals, the General Department of Supply and Trade Police, under the Economic Security Sector in Alexandria, has apprehended two individuals residing in the First Raml Police Department area.
Investigations revealed that the suspects were trading smuggled gold and silver items of unknown origin and stamping them with counterfeit marks attributed to official authorities, intending to sell them on the market. They operated from four unlicensed warehouses located beneath their residence.
During the raid, authorities seized approximately 3.5 tons of silver items and around 1 kilogram of gold items, along with tools and equipment used for forging the stamps. The total value of the seized goods is estimated at EGP 580 million.
Legal procedures have been initiated, and the Public Prosecution is conducting investigations.
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