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Those convicted of illicit gains encouraged to utilise Egypt's reconciliation amendments
Amwal Al Ghad Published in Amwal Al Ghad on 13 - 10 - 2015

Justice minister Ahmed El-Zend is calling on those convicted or investigated by the Illicit Gains Authority to take advantage of the new amendments to the reconciliation law, which allow settlements between the defendant and the state after the illegally gained money is returned.
The deputy justice minister Adel Saied said in a statement that the amendments, which have been in effect since 21 August, aim to support public interest and facilitate the recovery of public funds.
Saied added that the acceptance of reconciliation and the return of public funds offers the defendant a number of benefits specified by law, such as termination of the criminal case and all related restrictions, including travel bans and money freezing.
Among the benefits of reconciliation is the termination of related cases, such as money laundering.
Saied pointed out that, in the case of reconciliation during the investigation process, the suspect would only have to return the illegally gained amount of money to the state.
If reconciliation occurs during a trial, the defendant must return the funds along with a fine equaling the illegally gained sum, effectively doubling the amount the defendant must pay.
Egypt has more than one agency working on returning its stolen funds. These include the illicit gains authority and the money-laundering unit at the central bank.
The state hopes to recover illegally gained funds amid the current economic crisis.
source: Ahram Online

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