Egypt Court Orders Arrest of Mubarak’s Sons in Profiteering Case

Posted by African Examiner Latest Headlines, North Africa Saturday, September 15th, 2018

(AFRICAN EXAMINER) – An Egyptian court on Saturday ordered the arrest of the two sons of former President Hosni Mubarak on charges of stock market manipulation, state media reported.

The Cairo Criminal Court accuses Alaa and Gamal Mubarak of being involved in making unlawful profits of about 500 million pounds (about 28 million dollars) from manipulating stock market shares.

Saturday’s order includes three other defendants.

All the defendants were being tried while they were at large after they had been released on bail in the case.
The court set Oct. 20 for a trial.

Egypt’s long-time dictator Hosni Mubarak was toppled in 2011 after nationwide protests against him.

In 2015, Alaa and Gamal were sentenced along with their father to three years in prison on charges of embezzling state funds allocated for renovating presidential palaces. They were released in this case as they had already served the jail term in custody.

Gamal was widely expected to succeed his father as president before the 2011 uprising. (NAN)