Alaa Mubarak made LE30 million fortune in a week

Investigations by the Illicit Gains Authority (IGA) into the wealth of deposed President Hosni Mubarak and his family have revealed that his son Alaa abused his father’s power in manipulating the stock exchange, making LE30 million in just one week.

Investigations further revealed that the young Mubarak started his business with a 27-acre chicken farm, which he bought for LE25,000, and that over the next seven years he had amassed LE140 million, without any evidence proving the origins of the fortune were legal.

The IGA also found that Hosni Mubarak’s wife Suzanne had signatory power to a bank account containing LE800 million in aid money from European countries.

In related news, informed sources denied that Hosni Mubarak had asked to stay in Sharm el-Sheikh, fearing he would be taken to prison if he was moved to Cairo. They added that the matter of where he was to be held was contingent on the result of investigations into allegations against him.

Translated from the Arabic Edition

Related Articles

Back to top button