14 November 2012

Egypt: Mubarak-Era Tycoon Wants Pardon, Govt Says No - Source

Government sources said on Wednesday that fugitive businessman Hussein Salem attempted to strike a deal with Egypt's government where he returns illegally acquired money in exchange of dropping charges against him and his children, reported Al-Ahram.

Salem offered to pay two billion Egyptian pounds but Kandil's cabinet turned down the offer, ending negotiations with the Mubarak-era fugitive, the sources said as reported by the local newspaper.

A Spanish court had ordered that Salem be handed over to Egyptian authorities on charges of bribery, money laundering and abusing power, accusing him of using his Spanish passport to escape justice, but a higher court struck down the order.

A criminal court in Egypt had ordered the arrest of Salem and former Petroleum Minister Sameh Fahmy for 15 days pending investigations in corruption charges in a deal of exporting gas to Israel.

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