Mubarak sons face graft trial over financial corruption

Mubarak sons face graft trial over financial corruption

Cairo : Egypt | Jun 12, 2012 at 11:31 AM PDT
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Hosni Mubarak Guilty Verdict Causes Chaos

Judicial sources in Egypt said on Tuesday that Alaa and Gamal Mubarak, sons of Egypt's ousted president Hosni Mubarak, will go on trial for charges of stock market manipulation on July 9.

Judge Abdel Moez Ibrahim was quoted as saying that Gamal and Alaa Mubarak would be tried on July 9 with seven others in a criminal court for a corruption case related to the Egypt’s stock market, MENA news agency reported.

According to a statement by the prosecutor-general's office, the two, along with seven others, made illegal gains of some two billion Egyptian pounds and that their actions violated central bank and stock market regulations.

The statement added that Gamal has unlawfully made a profit of nearly 500 million Egyptian pounds from the sale of the Watani Bank and that his brother Alaa, believed to be around 50, used insider information about the bank to reap an illegal profit of some 12 million Egyptian pounds, according to MENA news agency.

Gamal, 48, former head of the powerful political committee of the ruling party under Mubarak, was tipped to succeed his father. This fueled anger among many quarters and helped to the outbreak of the revolt against Mubarak.

Alaa, 50, is a businessman, he is Mubarak's eldest son, was not involved in politics but was suspected to have amassed wealth using his father’s influence.

Latest news regarding Mubarak's health, doctors used a defibrillator twice after his heart stopped on Monday, a prison hospital source told AFP.

Mubarak's chief lawyer, Farid al-Deeb appealed through AFP for all world leaders and NGOs to save Mubarak.

Mubarak's lawyer told Reuters on Monday that Mubarak's status was "very critical" and that he should be moved to abetter equipped facility outside of the prison.

On the other hand, on Monday, a state newspaper had reported he had been taken outside to receive some sun and was regularly eating light foods, such as jelly.


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Mubarak sons face graft trial on July 9
Mubarak's sons Gamal and Alaa Mubarak walk after being sentenced in Cairo. Reuters
saleh1966 is based in Gaza, Ġazzah, Palestine, and is an Anchor on Allvoices.
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  • Mubarak sons to face fresh trial on July 9

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