Cairo courts and economic misdemeanors courts have issued a series of appellate rulings against several investors and executive directors of major companies due to their violations in the stock market. These rulings included manipulation of stock prices, delays in submitting financial statements, and conducting insurance and investment activities without legal licenses. Financial fines ranged from thousands to hundreds of thousands of Egyptian pounds, and some cases included bans on the accused from practicing their activities for specified periods, aiming to protect investors’ rights and ensure transparency in the Egyptian financial market.

In case number 7994 of 2024, an appellate ruling dated March 4, 2025, fined Hossam Hanna Allah Bakhoum Hendawy, Chairman of Al-Oula Investment and Real Estate Development Company, 2,000 EGP for each day of delay during 2024 for the company’s late submission of financial statements for the period ending March 31, 2024. In a similar case number 7135 of 2024, the same individual was fined 2,000 EGP per day for 2023 after the company delayed submitting its financial statements by 30 days.

In another case number 3131 of 2023, an appellate ruling dated August 8, 2025, fined Menna Allah Gamal Mahmoud Hazin and Eman Galal Abdullah, Chairwoman and Vice Chairwoman of Thiqah Business Management and Development Company, 26,000 EGP plus expenses for a 13-day delay in submitting financial statements for the period ending June 30, 2023.

In case number 2093 of 2019, Mohamed Talaat Hussein Al-Tabbakh, Hussein Talaat Hussein Al-Tabbakh, Hoda Samir Tawfiq, Tamer Ramadan Hassan Imam, and Sayed Mohamed Sayed Saleh Abdel-Moamen were each fined 300,000 EGP after proven manipulation of Lift Slab company’s stock price from June 19 to July 11, 2018, artificially inflating the trading price and making illegal profits at the expense of other investors.

The rulings also included case number 2371 of 2022, with an appellate ruling dated March 4, 2025, fining Abdel Latif Mahmoud Abdel Latif and two other board members of Rowad Tourism Company and the Egyptian Real Estate Company 10,000 EGP each for conducting mutual buy and sell transactions on the companies’ shares without approval from the general assembly, despite holding leadership positions, resulting in mutual financial obligations without legal approvals.

Regarding the insurance sector, an appellate ruling dated May 8, 2024, fined Ayman George Louis Farag, Managing Director of Grand Elite Egypt Healthcare Company, and other violators 5,000 EGP for issuing insurance policies without legal licenses. Additional rulings fined him 10,000 EGP on May 13, 2024, for conducting insurance activities illegally in cooperation with other partners.

For Grand Elite Egypt Company, an appellate ruling dated May 13, 2024, fined Raymond Samir Beshay Hanna and Ayman George Louis Farag 50,000 EGP for issuing medical insurance policies without legal licenses. Another appellate ruling dated July 15, 2024, fined the same defendants 50,000 EGP for conducting insurance activities without the company being licensed and registered with the authority.

In the financial brokerage sector, the Court of Cassation ruled on June 1, 2025, to fine Tarek Mohamed Talaat Hafez Al-Abhar, Managing Director of a brokerage company, 200,000 EGP and banned him from practicing the activity for one year for failing to verify clients’ ability to meet financial obligations from margin purchases during 2022. Another appellate ruling dated June 12, 2023, fined him 100,000 EGP for executing margin purchases despite exceeding legally prescribed margin ratios during 2021 and 2022.

These rulings reflect the Financial Regulatory Authority and competent courts’ commitment to protecting investors, ensuring transparency, and preventing any practices that could affect confidence in the Egyptian financial market. They affirm that any violation of financial laws and market manipulation will not go unpunished, sending a clear message to all investors to comply with laws and regulations in all financial transactions within the stock exchange.