ADCB launches ClimaTech Accelerator 2025    Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt's FRA approves first digital platform for real estate fund investments    Egypt signs 15-year deal with Deutsche Bahn-El Sewedy consortium to run high-speed rail network    Egypt launches National Strategy for Rare Diseases at PHDC'25    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    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    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    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.



Revolving doors
Published in Al-Ahram Weekly on 25 - 09 - 2008

Torah prison loses one leading businessman inmate only to gain another, Gamal Essam El-Din reports
Giza's Criminal Court acquitted businessman Hossam Abul-Fotouh of fraudulently obtaining loans of LE1.4 billion from Banque du Caire. In Thursday's ruling the court noted Abul- Fotouh had already repaid LE1 billion to Banque du Caire and "has adequate collateral to cover the remaining LE400 million".
In the late 1990s Abul-Fotouh was the Egyptian agent for BMW. At the time large public sector banks were encouraging businessmen to take out loans. "There was a high level of liquidity so the banks went out of their way to help big businessmen obtain loans under easy terms," said the court. "It is not Abul-Fotouh's fault that he responded to the bank's own policy." Nor, noted the court, had the case been brought by Banque du Caire: "The case against Abul-Fotouh was initiated following a complaint filed by a policeman who alleged that Abul-Fotouh had obtained loans without offering adequate collateral. This has proved to be untrue."
The businessman is no stranger to the courts, having been embroiled in several cases since 2000. Abul-Fotouh's lawyer, Farid El-Deeb, says that in addition to the Banque du Caire case -- Abul-Fotouh was sentenced in 2006 to 10 years in jail but the Court of Cassation overturned the sentence in June 2007 and ordered a re-trial -- his client was acquitted of charges of smuggling wire- tapping equipment and of running a pornographic studio. In 2003, Abul- Fotouh was found guilty of possessing an unlicensed weapon and served five years in jail.
Al-Deeb expressed hopes that Abul-Fotouh would be able to settle the remaining LE400 million in loans to Banque du Caire in time to spend the Eid Al-Fitr holiday with his family.
The same day Abul-Fotouh was acquitted Adel Andrawes, the chairman of the Court of Cassation, referred construction magnate Hisham Talaat Mustafa to trial beginning 18 October on charges of complicity in the murder of Lebanese pop singer Suzanne Tamim. Mustafa is accused of commissioning security officer and bodyguard Mohsen El-Sukkari to kill Tamim in return for $2 million. Mustafa has been detained in Cairo's Torah jail pending trial, the same jail as Abul-Fotouh's, and has now engaged El-Deeb to head his own defence.
In an interview with the state- owned weekly Akhbar Al-Yom El-Deeb claimed it would be simple to prove his new client's innocence. Reports about Mustafa's case, he said, have "been exaggerated and sometimes unfounded".
El-Deeb stresses that Mustafa did not have a strong motive to incite El-Sukkari to murder Tamim.
"Mustafa loved Tamim and was planning to marry her but his family objected," said El-Deeb. "If it was natural for Tamim, after the family's rejection, to look for another man to marry, it is far from logical that Mustafa should try to kill her because of this."
El-Deeb dismissed reports that Tamim had withdrawn up to $30 million from Swiss bank accounts held by Mustafa, and cast doubt on El-Sukkari's evidence.
"El-Sukkari's confessions are contradictory," argued El-Deeb, adding that "El-Sukkari said first that Mustafa hired him to kill Tamim but later he denied this, alleging that Mustafa had asked him just to frame her by placing drugs in her flat."
Leading lawyer Shawqi El-Sayed, an appointed member of the Shura Council retained by Mustafa's family, was expected to represent the building tycoon but appears to have objected to El-Deeb's being brought into the defence.
"I have been the family's lawyer since 1999 but I told Mustafa that I could not take this case because of a lack of coordination with other lawyers defending him," said El-Sayed.
This week Mustafa denied for the first time that he paid El-Sukkari $2 million to kill Tamim. In a letter sent to Akhbar Al-Yom he accused "enemies of success" of fabricating the case against him.
"In prison I face an awful injustice but reading the Quran in the holy month of Ramadan helps relieve some of my pain," Mustafa wrote. He went on to accuse newspapers and magazines, many belonging to the ruling National Democratic Party (NDP) of which he is a prominent member, of judging his case before it goes to trial.
"These lies will not be able to obliterate the great pyramids I have constructed in the Egyptian economy," Mustafa said. "Those who are tearing my flesh do not ask themselves whether it is reasonable for a man who boasts of such achievements to commit this brutal murder and destroy the reputation of his family in such a crazy way."


Clic here to read the story from its source.