Scandal in Vienna: Egyptian cheats academics out of millions!

Scandal in Vienna: Egyptian cheats academics out of millions!

An interesting trial began today in the Vienna Regional Court. A 57-year-old Egyptian man is facing serious charges accusing him of defrauding several wealthy academics from Vienna of large sums of money. The fraudster introduced himself as the secretary of a Saudi Arabian prince and caused a stir among his victims. According to reports from crown an injured lawyer lost over half a million euros. The defendant stated that he had to receive an inheritance of millions from the prince and that the transactions, such as the purchase of a hotel for a health center, were only formalized.

One thing is clear: the defendant's fabric of lies collapsed in 2023. A doctor and another academic also reported significant losses. The prosecutor argued that the victims were blinded by the Egyptian's self-confident demeanor and found themselves in a swamp of fraud. Interestingly, the defendant attributes responsibility to the allegedly forged proof of payment, which is said to exist but which he denies. The court-ordered graphical report is now intended to provide clarity, as promissory notes present him as a debtor.

A tricky real estate scam

In parallel to this scandal, other fraudulent activities have come to light. A whole group of fraudsters, consisting of a 58-year-old and his accomplices, have been faking real estate transactions in Vienna since 2019. They tricked Arab families in particular into believing they could invest in worthwhile real estate projects. The damage caused amounts to around ten million euros SN reported. These perpetrators promised victims fixed returns of up to 27 percent without ever intending to invest in the promised properties.

What is particularly explosive is that the 58-year-old is in custody and is accused of serious commercial fraud, money laundering and forming a criminal organization. While the investigation is ongoing under the direction of the Economic and Corruption Public Prosecutor's Office (WKStA), the extent of the fraud does not appear to have been fully explored. Another highlight: The defendant apparently tried to force his accomplices to give false statements in order to hinder the investigation.

A doctor and a police officer in the crosshairs

A doctor and a police officer are also involved in a further escalation of the scandal. The doctor is said to have managed part of the stolen loot, which was temporarily kept in his apartment. He regularly received large sums of up to 10,000 euros in banknotes and was intended not only to act as a 'safe vault', but also to involve a police officer in a fake arrest process, which was described as a 'live theater production'. Loud Vienna.at The trial against the doctor continued and he is also accused of abuse of office after he is said to have instigated the police officer to collect a salary of 8,000 euros in return.

Overall, what is happening around these fraud cases is not only a legal balancing act, but also raises questions about the trustworthiness of investment opportunities and how quickly one can fall into the trap. As the trial continues, it is hoped that those injured will receive justice and that the legal system will do its job.