Two sons of Egypt's Mubarak arrested for 'stock manipulation'

Remigio Civitarese
Settembre 16, 2018

The two sons of former Egyptian President Hosni Mubarak have been arrested for alleged stock market manipulation.

Alaa and Gamal Mubarak are accused alongside several other people of making unlawful profits by failing to inform the stock market of agreements to acquire majorities in several banks through front companies.

They said the arrests were ordered Saturday by judge Ahmed Aboul-Fetouh before he adjourned the hearings until October 20.

The sons were freed five months later, while Mubarak was released in March 2017after he was cleared of inciting the killing protesters.

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. The sons were freed five months later for time served, while Mubarak walked free past year.

In May 2015, Alaa and Gamal Mubarak were sentenced alongside their father to three years in jail for embezzling at least 125 million Egyptian pounds from public money that was earmarked for maintaining presidential palaces.

The trio were first detained in 2011 after an uprising forced Mubarak to resign.

According to Middle East News Agency, although the accused have denied committing any crime, a judicial source said three others, who are former and current members of an Egyptian investment bank, EFG-Hermes, were also arrested.

All those accused in the case, which began in 2012, had been released on bail and barred from travel.

Mubarak's sons were arrested at the court and ordered transfer to the Tora prison.

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