{"id":567700,"date":"2020-12-03T04:15:30","date_gmt":"2020-12-03T04:15:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/juhaynas-safwan-thabet-is-detained-pending-investigation\/"},"modified":"2020-12-03T04:15:30","modified_gmt":"2020-12-03T04:15:30","slug":"juhaynas-safwan-thabet-is-detained-pending-investigation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/juhaynas-safwan-thabet-is-detained-pending-investigation\/","title":{"rendered":"Juhayna\u2019s Safwan Thabet is detained pending investigation"},"content":{"rendered":"

Juhayna Chairman Safwan Thabet has been detained by authorities \u201cpending <\/strong>investigation,\u201d <\/strong>the FMCG giant said in a statement<\/a>. The company said the arrest \u201cis not related in any way to the company, its daily operations, or management.\u201d Reuters<\/a> cites an unnamed security source as saying the veteran businessman was arrested due to allegations of \u201cfinancial irregularities,\u201d but does not make clear that those were related to Juhayna. Thabet\u2019s son and Juhayna deputy chairman and CEO, Seif, will become the acting chairman, the company said. Daily operations at the company are continuing as normal.<\/p>\n

This isn\u2019t the first time Thabet has had issues:<\/strong> Thabet was placed on a terror watchlist in 2017<\/a> and saw his personal assets frozen for an alleged affiliation with the Ikhwan. He denied<\/a> belonging to the banned group, claiming that his \u201cfamilial ties to former Ikhwan leader Hassan El Houdaiby do not mean he belongs to the Ikhwan.\u201d Thabet appealed the asset freeze several times, but all appeals were rejected, according to Alhurra<\/a>.<\/p>\n

Juhayna was the biggest loser on the EGX yesterday:<\/strong> Shares fell 6.25% following news of Thabet\u2019s arrest to reach EGP 6.45 apiece.<\/p>\n","protected":false},"excerpt":{"rendered":"

Juhayna Chairman Safwan Thabet has been detained by authorities \u201cpending investigation,\u201d the FMCG giant said in a statement. The company said the arrest \u201cis not related in any way to the company, its daily operations, or management.\u201d Reuters cites an unnamed security source as saying the veteran businessman was arrested due to allegations of \u201cfinancial […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9720],"tags":[2247,72,1027,127,3667],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567700","post","type-post","status-publish","format-standard","hentry","category-current-affairs","tag-current-affairs","tag-enterpriseam","tag-juhayna","tag-politics","tag-safwan-thabet","wpautop","entry"],"acf":{"mongo_id":"692e0dbb-bdc8-40ba-9fba-fb2926de93e9","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[567679],"teaser":"","voice_url":""},"yoast_head":"\nJuhayna\u2019s Safwan Thabet is detained pending investigation - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/juhaynas-safwan-thabet-is-detained-pending-investigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Juhayna\u2019s Safwan Thabet is detained pending investigation\" \/>\n<meta property=\"og:description\" content=\"Juhayna Chairman Safwan Thabet has been detained by authorities \u201cpending investigation,\u201d the FMCG giant said in a statement. 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