China's online retail sales surge 11.5% in early '24    European stocks slide amid Fed caution    Egypt's gold prices up on Tuesday    China pushes chip self-sufficiency, squeezing US suppliers    ArcelorMittal, MHI operate pilot carbon capture unit in Belgium    India stresses on non-compliant electronics import rules    Madbouly inspects progress of Cairo Metro Line 4, Phase 1    Noqood Finance granted final licence to bolster SMEs    Finance Minister addresses economic challenges, initiatives amidst global uncertainty    Egypt's Health Minister monitors progress of national dialysis system automation project    Hamas accuses ICC Prosecutor of conflating victim, perpetrator roles    Giza Pyramids host Egypt's leg of global 'One Run' half-marathon    Egypt's Shoukry, Greek counterpart discuss regional security, cooperation in Athens    Madinaty to host "Fly Over Madinaty" skydiving event    Turkish Ambassador to Cairo calls for friendship matches between Türkiye, Egypt    Health Ministry adopts rapid measures to implement comprehensive health insurance: Abdel Ghaffar    Nouran Gohar, Diego Elias win at CIB World Squash Championship    Coppola's 'Megalopolis': A 40-Year Dream Unveiled at Cannes    World Bank assesses Cairo's major waste management project    Partnership between HDB, Baheya Foundation: Commitment to empowering women    K-Movement Culture Week: Decade of Korean cultural exchange in Egypt celebrated with dance, music, and art    Empower Her Art Forum 2024: Bridging creative minds at National Museum of Egyptian Civilization    Egyptian consortium nears completion of Tanzania's Julius Nyerere hydropower project    Sweilam highlights Egypt's water needs, cooperation efforts during Baghdad Conference    AstraZeneca injects $50m in Egypt over four years    Egypt, AstraZeneca sign liver cancer MoU    Swiss freeze on Russian assets dwindles to $6.36b in '23    Prime Minister Madbouly reviews cooperation with South Sudan    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Amal Al Ghad Magazine congratulates President Sisi on new office term    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Former PM Nazif given 5 years, EGP 53m fine in corruption case retrial
Illicit Gains Authority believe politician illicitly gained EGP 64m in assets
Published in Daily News Egypt on 22 - 07 - 2015

A Cairo court gave on Wednesday former prime minister Ahmed Nazif a five-year prison sentence and an EGP 53.3m fine, in a corruption case dating to his tenure under ousted president Hosni Mubarak.
In addition to the fine, Nazif has been ordered to pay back EGP 48.6m to the Egyptian government for the charges of illegal profiteering in his official roles.
The Illicit Gains Authority originally referred Nazif to the criminal court in light of its investigations that found he had abused his authority in obtaining illegal gains of EGP 64m.
The punishments in Wednesday's retrial are significantly more severe than in previous verdicts in the case. In September 2012, the court gave Nazif a three-year prison sentence and an EGP 4.5m fine. Also included in the charges were his wife Mona Abdel Fattah, and sons Sharif and Khalid. It is understood that Nazif can appeal Wednesday's verdict.
Nazif is accused of using his power to illicitly gain EGP 64m in assets, including shares in telecommunications firms. He was also accused of illicitly using an apartment in the San Stefano towers, through which he ran a ‘private university' that purported to be for public benefit, and procured government funds and private donations to the tune of EGP 25m.
Nazif became prime minister in 2004, and was dismissed in late January 2011 by former president Mubarak, who made the move in an attempt to calm the 25 January Revolution. Nazif was replaced by Ahmed Shafiq, but the move failed to sway the momentum of the revolution.
Corruption reached alarming levels preceding the 25 January Revolution, with many officials using their power to advance their own interests. Afterwards, many figures of the former regime were put on trial, including Mubarak and his two sons, Gamal and Alaa.
However, recently many Mubarak-era figures accused of corruption have been acquitted of their charges. Mubarak and his sons, former interior minister Habib Al-Adly, and former minister of petroleum Sameh Fahmi, have all had cases of large-scale corruption against them overturned.


Clic here to read the story from its source.