6 January 2013

Egypt Unfreezes Assets of Mubarak-Era Tycoon

A Cairo criminal court decided on Sunday to retract a decision by the Illicit Gains Authority to freeze the assets of businessman Ibrahim Kamel who was a prominent member of Hosni Mubarak's National Democratic Party.

Head of the Authority, Yehia Galal, had decided in November to block the businessman's access to his assets pending investigations in reports that suggested he may have increased his wealth through illegal means such as abusing his power as politician.

Kamel was recently acquitted from charges of complicity in the killing of peaceful protesters that toppled Mubarak's regime.

Copyright © 2013 Aswat Masriya. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.