Tareq Farrag, the deputy finance minister for real estate tax affairs, was arrested while receiving an LE1 million bribe from the owner of a contracting company in return for manipulating the value of a plot of land for a tourist resort. The total bride amounts to LE4 million, which would squander LE500 million of public money, the Administrative Control Authority declared on Saturday. The suspect, according to sources from the authority, has been watched for more than a month following audio and video recordings of agreements for the bribe. The recordings were sent to the prosecution which issued a warrant for his arrest. Speaking on condition of anonymity, the sources said the arrest took place on Saturday at 4 pm.

Source: Egypt Independent January 22, 2017 08:24 UTC