• 18:12
  • Friday ,16 September 2016
العربية

Cairo Court resumes trial of Mubarak sons over stock embezzlement

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11:09

Friday ,16 September 2016

Cairo Court resumes trial of Mubarak sons over stock embezzlement

 After 5-month hiatus, the Cairo Criminal Court will resume trail of former President Hosni Mubarak’s sons (Gamal and Alaa) and six other defendants over charges of stock embezzlement on Saturday, Youm7 reported Friday.

 
The defendants are accused of obtaining money unlawfully by selling the National Bank of Egypt (NBE) to the National Bank of Kuwait, embezzling money from the public fund and damaging the Egyptian economy and national banking system through manipulating the stock exchange.
 
The prosecution accused the defendants of receiving 2.5 billion EGP ($349.5 million) in the bank sale in violation of capital market and Central Bank of Egypt (CBE) laws.