Steel tycoon Ahmed Ezz’s case adjourned until May

The Giza Criminal Court on Monday adjourned the case of steel tycoon Ahmed Ezz and six others, including former Industry Minister Ibrahim Mohamedein, allegedly acquiring the shares of Dekheila Steel in an unlawful way until 5 May in order to hear the testimonies of the prosecution’s witnesses.

Defense lawyer Farid al-Deeb requested the postponement, as he went to France for treatment for angina pectoris. He has submitted a medical report and his plane ticket as proof.

Meanwhile, a civil plaintiff requested the appointment of a receiver for the Dekheila Company.

The Attorney General had referred the defendants to court in June 2011 on charges of profiteering and squandering LE5 billion in public funds, with the prosecution demanding the maximum penalty for them.

Investigations revealed that Mohamedein had in 2001 helped Ezz acquire the shares of the company, which was owned by the state at the time, in violation of the law, and exempted him from paying the value of the shares and any other fines, which enabled him to gain more than LE5 billion in profits, in addition to another LE5 billion from 2001 until 2011.

Ezz was a business tycoon and close associate of Gamal Mubarak, son of the deposed president. He was also accused by the Central Auditing Agency of monopolizing the steel industry.

Translated from Al-Masry Al-Youm

Related Articles

Back to top button