The Cairo Criminal Court on Tuesday acquitted three former ministers of charges of squandering public funds. The Public Prosecution had charged ex-finance and information ministers Youssef Boutros-Ghali and Anas al-Fiqqi with spending LE36 million in public funds on a publicity campaign for National Democratic Party parliamentary candidates in the 2010 election. Fiqqi is also being questioned over allegations of abusing his position to achieve illicit gains. During the interrogations, Fiqqi said he has US$2 million in an account in Switzerland, besides other assets and funds. In June, Boutros-Ghali was handed a 30-year prison sentence in absentia for abusing his position. The same court on Tuesday also acquitted former Housing Minister Ahmed al-Maghrabi and Akhbar al-Youm chairperson Ahdy Fadly of charges of squandering public money. The public prosecution had charged Maghrabi with selling 113 feddans of state-owned land in 6th of October City to Akhbar al-Youm Investment at a price lower than its value. According to the charges, Akhbar al-Youm Investment sold the land plot to a subsidiary of Palm Hills Construction - in which Maghrabi is a partner. The move generated revenues of more than LE159 million for Maghrabi and the purchasing company. The same transaction cost the state LE272 million in lost funds. In May, Maghrabi was sentenced to five years of prison for squandering public money and facilitating the acquisition of state-owned land. Translated from the Arabic Edition
