The Consumer Protection Agency (CPA) reported to the public prosecution two tourism investment companies over announcing time-share units without licenses.
In statements Tuesday, CPA head Atef Yaqoub said the agency had received several complaints that El Fatim Misr for Development and Real Estate Investment handed over timeshare units to their buyers without any utilities and that El Khalig For Touristic Investments delayed handing over timeshare units to their buyers.
Investigating the complaints, it turned out that the company had no licenses for selling timeshare units, he said.
The CPA had asked the two companies to reimburse the consumers, but they abstained and the whole issue was referred to the public prosecution.
Under Article 6 of consumer protection law, any announcer should provide consumers with true information about the product and its features and avoid anything that could mislead or confuse the consumer