Egypt is facing one of its largest online fraud cases after FBC, a digital marketing platform, swindled nearly $6 billion (300 billion EGP) from one million people.
Following a surge in complaints, authorities arrested a key suspect. Investigations uncovered that FBC falsely presented itself as a government-approved entity, leveraged social media advertising and influencers, and lured users with promises of high returns on prepaid investments.
People invested in structured packages, expecting daily profits and bonuses. However, when they tried to withdraw their funds, transactions were blocked, and the platform eventually shut down, vanishing with billions.
Law enforcement continues efforts to track down those involved as victims seek justice.
