Court postpones trial of Mubarak-era steel magnate to October

An Egyptian court on Tuesday postponed the trial of Ahmed Ezz, a former regime figure and a steel mogul, to 1 October.

Ezz, a former secretary of the disbanded National Democratic Party (NDP), faces charges of squandering public funds through his Ezz Dekheila Steel Company.

Other defendants in the case include former Industry Minister Ibrahim Mohamedein and five company officials.

The postponement was made after a request by the defense lawyers, who wanted to look over evidence revealed during Tuesday's session.

Prosecutors called for the severest punishment for the defendants, charging them with profiteering and squandering public funds worth LE5 billion.

Investigations by Egypt's prosecution allege that Mohamedein illegally enabled Ezz to seize shares at Ezz Dekheila Steel Company, then a state-run company, from 1999 to 2001. The prosecutors accuse Ezz of making illegal profits worth LE687.44 million.

They also say Ezz, aided by other company officials, made illicit profits from 2001 to 2011 worth more than LE4.82 billion.

Ezz was arrested 24 February following the resignation of former President Hosni Mubarak.

Besides holding a monopoly on Egypt’s steel industry, Ezz was a close ally to Gamal Mubarak, the former president's son.

Translated from the Arabic Edition

Related Articles

Back to top button