Egypt Ex-President Mubarak's Sons Arrested

The two sons of former Egyptian President Hosni Mubarak, Alaa and Gamal, have been apprehended for alleged stock market manipulation.

According to state news agency Mena, the two, who had been out on bail for the past three years, are accused of breaking stock market and central bank rules.

But the brothers, who deny any wrongdoing, will appear in court on 20 October.

It was learned that the case against them began in 2012, after their father was deposed the year before.

The Cairo court also ordered the arrest of three others, and the defendants collectively face charges of embezzling 2bn Egyptian pound ($115m; £88m).

Both Alaa, 57, and Gamal, 54, are charged with embezzling at least 494m Egyptian pound after they decided to sell the National Bank of Egypt for profit.

Alaa is a businessman who stayed out of politics, while Gamal is a former banker who was widely viewed as being groomed to succeed his father before he was overthrown in the Arab Spring uprising in 2011.





Disclaimer: Stories culled and pictures posted on this blog will be given due credit and is not the fault of drifternews.blogspot.com if website culled from misrepresents source of story.

No comments:

Powered by Blogger.