CAIRO: Over 1000 rioters in Qalyubia attacked on Thursday the home of Ramadan Al-Zeini, a member of parliament for the ruling National Democratic Party, suspecting him of having connections with pyramid scheme mastermind Rayan Al-Qalyubia.
He was dubbed “Rayan Al-Qalyubia by the media in reference to the infamous 1980s’ scam hatched by Ahmed El Rayan, who was accused of collecting money from citizens for high-interest rate investment, after which pyramid schemes were made illegal in Egypt.
Police used tear gas to disperse the angry rioters who also destroyed shops in Qalyubia, a governorate north of Cairo, security sources said.
The riot began as a protest by hundreds of village residents who had been defrauded of their savings by a man who, the press reported, had amassed around LE 300 million by promising to invest their money and pay them regular returns.
The villagers say the man stopped paying them several months ago and had since disappeared, according to the sources.
Protestors fired shots in the air, burned rubber tyres, and stormed Al-Zeini’s house, ransacking it and dumping his possessions onto the street.
They also threatened to detonate a gas cylinder in Al-Zeini’s home.
The rioters later looted and destroyed at least six shops they suspected were connected to the scammers, and burned 15 cars parked in front of Al-Zeini’s home.
There were conflicting reports on whether Rayan Al-Qalyubia was arrested on Thursday and transferred to the prosecution.
In response to rumors that he had escaped, security sources did, however, confirm that the main suspect did not flee the country.
Eight of the demonstrators were reported injured. Fifty of the rioters were also rounded up, 14 of whom were remanded in custody for instigating riots and attempted arson.
North Qalyubia prosecutor Magdy El Sonbaty stated that the detention of Adel Sobeih, the father of the main suspect in the fraud case, was renewed for 15 days.
Two other suspects, Ahmed Sobhy and Hussein Al Abyad are also in custody pending investigation.
