The Cairo Criminal Court rejected an appeal submitted by the defense of business tycoon Ahmed Ezz to reduce his LE100 million bail in his money laundering case.
The defendant is also on trial for squandering LE5 billion of public money in Dekhila steel company as well as evading LE10,680,000 in taxes on his Ezz Al-Dekheila and Ezz Holding companies.
Ezz is the former secretary general of the disbanded National Democratic Party, which led the country for 30 years under rule of the deposed President Hosni Mubarak.
Edited translation from Al-Masry Al-Youm
