Egypt launches industrial cash incentive to draw FDI    Egypt's food exports hit 222,000 tons in week ending 5 Dec. – NFSA    Egypt's pound inches up against dollar in early Sunday trade    Egypt joins Japan-backed UHC Knowledge Hub to advance national health reforms    Eight Arab, Muslim states reject any displacement of Palestinians    SCZONE chair showcases investment opportunities to US institutions, companies    Egypt launches 32nd International Quran Competition with participants from over 70 countries    Al-Sisi reviews expansion of Japanese school model in Egypt    Egypt launches National Health Compact to expand access to quality care    EU drafts central energy plan to fix grid bottlenecks and save billions    United Bank to roll out specialised healthcare financing packages, including green financing: Kashmiry    US warns NATO allies against 'bullying' American defence firms amid protectionism row    Netanyahu's pick for Mossad chief sparks resignation threats over lack of experience    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Egypt recovers two ancient artefacts from Belgium    Egypt assumes COP24 presidency of Barcelona Convention    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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.



Mubarak's finance minister Boutros Ghali sentenced to 25 years
Youssef Boutros Ghali, former minister of finance, received a 25 year prison term in absentia after being convicted of corruption
Sayed Gamaleddine Published in Ahram Online on 23 - 04 - 2013

A Cairo criminal court has sentenced Egypt's former minister of finance Youssef Boutros Ghali in absentia to 25 years in prison on charges of squandering public funds.
Prosecutors accused Youssef Boutros Ghali of squandering some LE 28 million ($ 4.1 million at current exchange rates) between 2009 and 2010, when he was minister of finance.
According to the court, Boutros Ghali allocated a contract to a British company by direct order and not through a tender offer as the law stipulates.
The contract was to print coupons for cooking gas and gasoline which were to be used in implementing a new distribution system for subsidised oil products.
Investigations also concluded that the ex-minister had deceived the prime minister at the time, Ahmed Nazif, convincing him that the deal was legal.
Egypt's Illicit Gains Authority notified the stock exchange last Wednesday that the assets of the former finance minister and his family had been frozen.
In June 2011, Boutros-Ghali was sentenced to 30 years in prison in absentia after been convicted of squandering public funds in a separate case. The court also ordered him to return LE30 million and pay an additional LE30 million in fines.
Ghali served as finance minister under former president Hosni Mubarak from 2004 to 2011. He fled Egypt in February 2011.
Ghali, who is living openly in the UK, has been issued with a “red notice” for his arrest by Interpol.
http://english.ahram.org.eg/News/69963.aspx

Clic here to read the story from its source.