Asia-Pacific stocks mixed on Monday    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt delivers over 30 million health services through public hospitals in H1 2025    Egypt joins Geneva negotiations on Global Plastics Treaty, calls for urgent agreement    Egypt, Japan discuss economic ties, preparations for TICAD conference    Egypt's PM tells Palestinian PM that Rafah crossing is working 24/7 for aid    Real Estate Developers urge flexible land pricing, streamlined licensing, and dollar-based transactions    Madinet Masr in talks for three land plots in Riyadh as part of Saudi expansion    Escalation in Gaza, West Bank as Israeli strikes continue amid mounting international criticism    Egypt recovers collection of ancient artefacts from Netherlands    Egypt, UNDP discuss outcomes of joint projects, future environmental cooperation    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    After Putin summit, Trump says peace deal is best way to end Ukraine war    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.



Court orders release of Egypt steel tycoon Ezz, pending retrial
Cairo Criminal Court orders postponement of Mubarak-era steel mogul Ahmed Ezz trial to December
El Sayed Gamal El Din Published in Ahram Online on 05 - 08 - 2013

The Cairo Criminal Court ordered on Monday the release of steel tycoon Ahmed Ezz without bail and postponed his retrial to 5 December on graft charges related to the illegal sale of steel licenses.
The former secretary-general of Hosni Mubarak's National Democratic Party (NDP) will not be released, as he remains on trial for other cases.
In June, Egypt's economic felonies court acquitted Ezz and two of his associates of charges of engaging in monopolistic practices in the Egyptian steel market, which Ezz Steel dominates by more than 45 percent.
Ezz was standing on trial with Amr Assal, the former chairman of the Industrial Development Authority.
In September 2011, Cairo's Criminal Court sentenced both former Mubarak's officials to 10 years in prison on the aforementioned charge.
Rachid Mohamed Rachid, the former Minister of Trade and Industry, was sentenced to 15 years in absentia as well.
The court also fined Ezz and Assal LE660 million and ordered the concerned steel companies to renounce their licences.
Rachid was fined LE1.4 billion and ordered to refund the costs of the steel licenses he had helped grant to two companies.
In December 2012, however, Egypt's Court of Cassation cancelled another 10-year sentence a court had given him on graft charges related to the illegal sale of steel licenses.
After president Mubarak was ousted in a massive uprising in 2011, Ahmed Ezz became entangled in legal troubles. He was dismissed from his position as chairman of Ezz El-Dekheila in May 2011 and is currently under guard at Tora Prison in southeast Cairo.
Last May, Egypt's Court of Cassation ordered Ezz be retried, after he successfully appealed his conviction on charges related to his alleged role in money laundering, illicit profiteering and appropriation of public funds.
The court cancelled his seven-year prison sentence in October 2012 and LE19.3 billion fine.
http://english.ahram.org.eg/News/78353.aspx

Clic here to read the story from its source.