Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Gold prices inch up on Aug. 12th    Egyptian pound closes high vs. USD on Tuesday – CBE    Edita Food Industries Sees 72% Profit Jump in Q2 2025, Revenue Hits EGP 5 Billion    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    PM Madbouly reviews progress of 1.5 Million Feddan Project    Australia to recognise Palestinian state in September, New Zealand to decide    Trump orders homeless out of DC, deploys federal agents and prepares National Guard    Egypt, Côte d'Ivoire hold political talks, sign visa deal in Cairo    Egypt's TMG H1 profit jumps as sales hit record EGP 211bn    Egypt, Germany FMs discuss Gaza escalation, humanitarian crisis    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt, Huawei discuss expanding AI, digital healthcare collaboration    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    Oil rises on Wednesday    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Egypt, Malawi explore pharmaceutical cooperation, export opportunities    Egypt's Foreign Minister discusses Nile water security with Ugandan president    Egyptians vote in two-day Senate election with key list unopposed    Korean Cultural Centre in Cairo launches folk painting workshop    Egyptian Journalist Mohamed Abdel Galil Joins Golden Globe Voting Committee    Foreign, housing ministers discuss Egypt's role in African development push    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.



Money talks
Published in Al-Ahram Weekly on 22 - 03 - 2012

The suggestion that former regime officials may be able to buy their way out of prison has left many angry, writes Mona El-Nahhas
Finance Minister Momtaz El-Said's 13 March revelation that the government was considering offers by Mubarak-era cronies currently incarcerated in Tora prison to return illegally obtained assets in exchange for sentences against them being annulled and any further charges dropped provoked widespread anger.
"In light of the current budget deficit and decrease in reserves retrieving these funds is clearly in the national interest," El-Said told reporters following a cabinet meeting during which the issue was discussed. He added that a precise figure for illegally acquired funds held abroad was unobtainable, and noted there was no legal impediment to settling cases involving financial corruption through a reconciliatory process.
Steel tycoon and close Gamal Mubarak associate Ahmed Ezz, former housing minister Ahmed El-Maghrabi and fugitive businessman Hussein Salem are among those seeking deals. Ezz was sentenced to 10 years in prison in September, El-Maghrabi received a five-year jail term last May and Salem was handed a 15-year sentence in absentia. Other leading figures from the Mubarak regime are said to be interested in negotiating deals once legislation is in place guaranteeing they will face no legal questioning in the future.
Legal experts question El-Said's assertion that there are no legal barriers to such deals.
"The penal code does not permit reconciliation in cases involving the looting of public money or the abuse of power to secure illicit gains," Hisham Geneina, deputy chief justice of the Court of Cassation, told Al - Ahram Weekly. The current law only allows reconciliation in cases involving tax and customs evasion, in which instance, says Geneina, "the suspect has to reimburse all due monies or, in some instances, double the amount as a fine".
Geneina opposes any legislative amendments to permit reconciliation in cases of financial corruption which would, he says, "be tantamount to legalising criminal activity".
The Free Egyptians Party has said it would not oppose former regime figures returning funds and assets in return for charges being dropped. It would, however, be against any reconciliation in criminal cases, according to party member Ahmed Khairi.
It could be many years, say those who have voiced tacit support for the scheme, before final court rulings against regime fraudsters are handed down, and even then will offer no guarantee that looted funds will be returned.
Tagammu Party spokesman Nabil Zaki argues that "getting back these funds will help Egypt overcome the economic crisis it faces".
The Muslim Brotherhood's Freedom and Justice Party (FJP) remains opposed. "It is unacceptable to reach deals with those who looted billions," says FJP Chairman Mohamed Mursi. "The fact that they are seeking reconciliation should be treated as an admission of their crimes and they should be punished accordingly."
"Anyone found guilty of amassing a fortune at the expense of the public should be punished," says MP and possible presidential candidate Abul-Ezz El-Hariri. "Only then will others be deterred. The return of assets that have been looted should be pursued with the full force of the law."
The 6 April Movement has denounced any possible deals with those guilty of corruption as another attempt by Egypt's current rulers to undermine the 25 January Revolution.


Clic here to read the story from its source.