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Talaat and Hafez under investigation
Sarah El Sirgany Published in Daily News Egypt on 20 - 12 - 2005

CAIRO: Investigation is currently underway in the case of businessman Ihab Talaat and former President of Egyptian Radio and Television Union and Media Production City Abdel Rahman Hafez.The Administrative Monitoring Authority will determine exact charges on Wednesday.
Talaat is facing charges of appropriating public funds, and Hafez is facing charges of facilitating the embezzlement. The exact accusations are expected to be announced tomorrow. By Wednesday they will have spent 15 days in custody, pending the investigation and following the orders of the prosecution's office. Officials of the Administrative Monitoring Authority will decide then if the 15 days would be renewed for further questioning and investigations.
According to sources, Talaat and Hafez are being held at the Administrative Monitoring Authority headquarters in Heliopolis, receiving class A treatment.
The oppositional daily Al Wafd published a series of articles last month accusing Talaat of money embezzlement with the help of ERTU and Media Production City officials. Early in December, Information Minister Anas El Fiqi ordered Hafez be investigated by the Prosecutor General. On Dec. 9, Talaat and his wife singer Sherine Wagdy were stopped at the airport as they were leaving the country.A decision to ban the two from traveling was issued only few hours earlier.
An investigation was initiated to look into the possible accusations. The Cairo Criminal Court ruled on Dec. 14 the temporary sequestration of Talaat's and Hafez's money and assets until pending investigation findings.The court ruling came in support of the Prosecutor General's previous orders.Their spouses' money and assets also fall under the same rule.
Talaat's offer to reschedule his debts (starting by paying LE 8 million in cash and LE 22 million in checks) was turned down by the prosecution office.
According to rough estimations Talaat is indebted with LE 48 million to Media Production City. Unconfirmed news suggests that Talaat is also indebted to Al Ahram Corporation by LE 63 million.

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