The State has applied to the Criminal Court to file multiple charges against Managing Director of Kings Capital Holdings Alhan Fahmy and two of his brothers for running an illegal investment scheme and defrauding a large number of individuals.
Police ran a criminal investigation in to the case of the company conducting an unlawful investment scheme through which they swindled money out of several people. The case was sent to the Prosecutor General's Office (PGO) last week.
The PGO said that they have filed charges in the case against Alhan Fahmy and his two brothers, Shazban Fahmy and Shahuban Fahmy. Each of them have 13 charges of defrauding against them.
The PGO also revealed that the police are still continuing investigations into different aspects of the case. The PGO will decide upon raises charges in these matters later on as the investigations reach completion.
In relation to the case, the bank accounts of the company have been frozen. However, Court Court ruled last year that the freezing of accounts was against the law.
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