CAIRO: A Cairo criminal court sentenced Ahmed Ezz, the country's steel mogul and former leading member of the deposed National Democratic Party, and Amr Assal, former head of the National Industrial Development Committee to 10-years in prison and a fine of 660 million Egyptian pounds ($110 million). The court also sentenced former minister of industry and trade Rashid Mohamed Rashid in absentia to 15 years and 1.144 billion Egyptian pounds ($190 million) fine. Ezz was convicted of falsely obtaining trade licenses. The three were accused of wasting public money and misuse of power. Prosecutors said they wasted 440 million Egyptian pounds from state funds. Assal was convicted of giving Ezz free licenses to operate his steel company in the country, which then wasted millions of the state's money while Rashid was convicted of corruption charges where he used his position as minister to earn personal gains and to ease the way for Ezz to monopolize the steel market for over one decade. Ezz is facing another lawsuit, being charged with wasting public money through his Dakheliya Steel Company. Rashid escaped the country following the January 25 revolution along with other former ministers and officials. BM
