CMA LAW: The Capital Markets Authority Announces Filing a Report with the Prosecutor General Regarding the Occurrence of a Crime

The Capital Markets Authority announces filing a report with the Prosecutor General on 21/09/2023 regarding the occurrence of the crime stipulated under Article (125) of Law No. 7 of 2010 Regarding the Establishment of the Capital Markets Authority and Regulating Securities Activities and its amendments, and the crime stipulated under Articles No. (231) and (257) of Law No. 16 of 1961 promulgating the Penal Code. The defendants created a fraudulent official document of a license certificate purportedly issued by the CMA. This document falsely claims to represent a particular company. Subsequently, the defendants sent this fraudulent document to an individual with the aim of deceiving him into believing its authenticity. The intended purpose of this act was to exploit others through fraudulent means, leading them to hand over their money.

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