CAIRO: Egyptian steel tycoon Ahmed Ezz faces court over charges of squandering public funds. Ezz, ex-head of the formerly ruling National Democratic Party, is alleged to have profited millions from monopolizing Egypt's steel market. Ezz already appeared in court in February facing charges of corruption. He was received by a crowd of hundreds shouting “thief” and “you rob our money,” BBC reported. Founder of Egypt's biggest steel industry, Ezz Steel, Ezz was considered by many as former President Hosni Mubarak's right hand. Ezz Steel is a leading steel producer company in the Middle East. Founded in the early nineties, the company greatly benefited from the privatization of state economy and infrastructures. Many opposition forces, including the Muslim Brotherhood, accused Ezz of cornering the egyptian steel market in a joint effort with the ex-government to enhance the proliferation of monopolies. Ezz “symbolizes what many Egyptian despised in the Mubarak era: the intersection between money, politics and power”, reported Al Jazeera. Burnt documents including budgets for the years 2004 and 2005 were found in Ezz's office in Dokki, a Cairo neighborhood, said investigators. Ezz is not the only man near to former President Mubarak to be persecuted recently. Former Minister of Interior Habib al-Adly faced court over charges of money laundering on Saturday. Al-Adly is widely believed to be behind the releasing of criminals during the beginning of the Egyptian uprising in late January, in order to foment chaos in the country and disperse anti-government demonstrators. These allegations have not yet been proven. BM
