Cairo (Reuters)-A Criminal Court of Egypt dropped 37-year prison sentence to Ahmed Ezz, who is known as "the skipper of steel" in the era of former President Hosni Mubarak and prominent member of the party which was then in power.
Ezz was condemned for corruption charges, benefit themselves and looting of State funds. The investigation revealed the country funds in vain Ezz deal to buy a State-owned steel company, Ad-Dekheila.
Through the deal, private profit as much as Ezz 710 million US dollars from 2001 to 2011 with the help of senior government officials.
Ezz proved to unite State-owned companies, Ad-Dekheila, with his own steel company under a single trademark "Ezz Dekheila Ad-", Xinhua reports.
Ezz, aides close to Mubarak's son--Gamal Mubarak, was arrested at the end of February 2011, once the process of overthrowing the Government of Mubarak.
(C003)
News; Finance; Insurance; Health; Cancer
News; Finance; Insurance; Health; Cancer; Car Insurance; Health Insurance
