Mohamed Farag
Posted on: Thursday 26 November 2020 – 11:35 AM | Last update: Thursday, November 26, 2020 – 2:56 PM
The decision of the Court of Urgent Matters, issued last Tuesday, confiscated the funds of 285 members of the Brotherhood and 3 entities affiliated with it, and prevented them from disposing of all their real estate, movable and liquid funds, stocks and bonds.
The decision included “My Way”, an Egyptian joint stock company, that manufactures and sells products through social marketing, by subscribing to the “membership” system and marketing the product in exchange for a variable commission rate that disburses cash or replaces it with free products, a system that has been very popular among the circles. Housewives ladies.
According to the company’s official website on the Internet, it is a “100% Egyptian Arab joint stock company, which owns three factories and 140 branches in Egypt, as well as branches in Saudi Arabia, Morocco and Jordan, and employs 3000 thousand employees, and more than 150 thousand members participate in its marketing program.”
Under the law, and after the court’s ruling approving the reservation request, the government will manage the company, similar to what happened with a Saudi supermarket chain, until a final ruling is issued condemning it and then confiscating its funds in favor of the state.
The decision also included seizing the money and personal property of the company’s owner, businessman Muhammad Mansour Abdul Rahman Abu Auf, and his brother Mustafa.
Also read:
A new legal reality for the file of the custody of the Brotherhood’s funds – «Infograph»
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