Missing funds case nets 3 TV exex

Badawys taken into custody after funds went missing

CAIRO — Three more Egyptian TV execs are being held in custody as authorities probe their alleged role in multimillion-dollar financial irregularities involving the state broadcaster and government-backed film studio Media City.

They are one-time Media City sales manager Hafez Badawy; his brother Samy Badawy, former Media City deputy director; and latter’s son Ahmed Badawy, a former programming director.

They were taken into custody Wednesday after missing funds of about $5 million from TV ad revenue came to light.

Abdul Rahman Hafez, former chairman of state broadcaster the Egypt Radio and TV Union, who went on to become Media City chief, has been held since Dec. 13 despite reportedly paying back some $9 million that had gone missing.

Advertising agency topper Ehab Talaat, who was allegedly involved in the coin scam and had also been held since December, has been freed and has moved to Dubai.

The fraud took place five years ago but only recently come to light.