The Cairo Criminal Court on Wednesday upheld the decision of the Illicit Gains Authority (IGA) to freeze the assets of Abu al-Wafa Rashwan, the former personal secretary of ousted President Hosni Mubarak.
The IGA had issued the decision in light of investigations conducted by the regulatory authorities revealing that Rashwan’s wealth could not be explained his legitimate sources of income, a fact suggesting he exploited his influence to achieve illegal gains.
The decision included the freezing of Rashwan’s wealth, including real estate, property, liquid funds, and moveable shares. Decisions issued by judicial investigative authorities concerning the freeze are considered temporary decisions until they are upheld and ratified by the court.
Investigations revealed that Rashwan owns a 100-acre plot in Abu Tesht Township in Qena as well as apartments in Oboor, Heliopolis, and Alexandria. He also owns a villa in Marina and 128 acres of agricultural land in Suez and Qena. On 18 September, the court upheld the freeze in a decision that was appealed by the defendant.
Translated from Al-Masry Al-Youm
