Sunday 05/April/2026 – 11:55 AM
The testimony of the head of the litigation sector at the company revealed Suez Canal Insurance Company, detailed details regarding the incident in which a production representative at the company was accused of embezzling hundreds of thousands of pounds from insurance policy premiums, in Case No. 152 of 2026, felonies, October 2nd.
Investigations into an incident of embezzlement by an employee at an insurance company: The accused collected hundreds of thousands of pounds in premiums for himself
The witness explained, in his statements included in the list of corroborative evidence, that the accused had been working for her since 2012 as an excellent production representative, and was at his job during the period of the incident.
He added that the accused received 26 insurance policies bearing his name as an intermediary, in addition to payment letters addressed to the banks. He then went to the customers and collected the installments, whether in cash or by checks written in his personal name, in clear violation of the regulations that require payment in the name of the company only.
He confirmed that a review of the company’s records, whether in the issuing, collection, or treasury departments, did not show any supply portfolios or payment notices related to those documents, which means the accused continues to record the entire debt.
He pointed out that customer statements confirmed that they paid the installments directly to the accused, proving that he received the amounts without supplying them, explaining that the total embezzled funds amounted to 293,305 pounds and 450 US dollars.
This testimony comes within the framework of referring the accused to the Criminal Court, after he was accused of embezzling funds delivered to him because of his job.
