The questions you ask are if it's the safest place in the world to dive or if information is suppressed?
The answer to both questions: no.
Egypt and Sinai has a very well developed diving infrastructure with many skilled dive guides. There are off course a few bad apples and luck seekers that are willing to compromize safety, but there are also plenty of good, serious operators. The diving conditions vary in the Sinai area, but the regular recreational diving is generally fairly easy. The water is comparatively warm and clear.
Very deep waters in some locations, currents and often choppy sea conditions can however make the diving demanding. I don't have the numbers to back it up, but my feeling is that most accidents are people doing very stupid diving. The Blue Hole in Dahab is a place that have tempted a few young men to push it past their limit.
Regarding withholding information... I don't think so. There are stories every year in the press about accidents in the Red Sea (as well as in other places). Have you tried DAN Europe? PADI Egypt? I'm sure some Egyptian authorty also have the statistics, but I'm afraid I don't know exactly where to point you. You need someone who are familiar with the system in Egypt to help you.
/christian