Case of East Jet Company and its Dispute with Dr. El Sayed El Badawi (The Former President of El Wafd Party)
Dr. Mohamed Hamoda did not hesitate to accept the task of defending a certain major Emirati company that pumped investments of hundreds of millions in Egypt; East Jet company. The company invested huge amounts of money through purchasing Sigma pharmaceutical Company's shares- managed by Dr. el Sayed El Badawi (former president of El Wafd Party) and one of most famous figures in Egypt. He manipulated dividends of shares owned by East Jet, which reached about two hundred million pounds. Despite such critical situation, Dr. Mohamed Hamoda could collect the shattered shareholders in Sigma company under his leadership to claim for dividends of shares. Through the company shareholders, he called for an extraordinary assembly meeting in which he could state full facts in front of all shareholders who took violent decisions against Dr. El Sayed El Badawi and the board of directors. Dr. Mohamed Hamoda also filed a number of reports to Mr. Counselor Public Prosecutor accusing the board of directors of Sigma pharmaceuticals- primarily Dr. El Sayed El Badawi- of manipulating public funds owned by a shareholding company and forging official instruments. Indeed, the Supreme Public Funds Prosecution investigated in these reports and formed a committee of technical experts to prepare their technical report concerning these shares and the size of their profits, as well as the committed crimes. One of the reports was referred to the Administrative Control Authority after verifying the incidents stated therein to investigate in it. The Illicit Gains Authority is still investigating in these crimes. It is expected that the Public Funds Prosecution would take strong decisions to deal with such reports and committed crimes.