HRHO denies CEO & Staff’s Stock Market Manipulation Charges

EFG-Hermes Holding (HRHO) has denied that the CEO Yasser Mallwany and the financial programming staff may face charges of stock market manipulations or of others.

This was after Cairo International Airport authorities had banned HRHO’s CEO from traveling on the basis of the General Prosecutor Abdul Maguid Mahmoud’s decision.

HRHO has referred that Abdul Maguid Mahmoud’s decision is just a precautionary procedure which had been taken against further public figures during the last 12 months.

Amwal El-Ghad has found out through well-informed sources that the General Prosecutor’s decision on the CEO’s travel ban was due to Mallawany’s involvement in squandering public money in Horus, the offshore mutual fund. Horus is an offshore mutual fund built in Cyprus and Gamal Mubarak used to contribute around %6.