Cairo's Criminal Court commenced on Tuesday its trial of Egypt's former Housing Minister Ahmed al-Maghrabi, on charges of squandering public funds.
Also standing trial were the former chief executive of Akhbar al-Youm newspaper, Mohamed Ahdi Fadli, Egyptian businessman Yassin Mansour, and Emirati businessman Waheed Yusuf, who remains at large.
Al-Maghrabi is accused of selling 113 acres of state-owned land in 6 October City to the Akhbar al-Youm Investment Company at deflated prices.
In turn, Akhbar al-Youm Investment is alleged to have sold the land to Palm Hills Urban Development, a company in which al-Maghrabi is a partner.
The sale allegedly earned al-Maghrabi some LE159 million, while costing the public purse more than LE272 million.
The court decided to delay the trial proper until 3 April.
Attorney General Abdel Meguid Mahmoud had imposed a travel ban on the al-Magrhabi and also ordered a freeze on his bank accounts in February, following reports he received accusing Maghrabi of corruption.
