Aswat Masriya (Cairo)

6 August 2014

Egypt: Mubarak-Era Tycoon Ahmed Ezz Paid All Required Bails - Lawyer

Cairo — Businessman and steel tycoon Ahmed Ezz has paid all the required bails in the case of profiteering from public funds, his lawyer told Aswat Masriya on Wednesday.

Farid al-Deeb said Ezz paid a bail of 100 million Egyptian pounds on Monday and that he will be released when all procedures are completed.

The Mubarak-era businessman is also detained over two other charges, which are money laundering and steel monopoly.

An Egyptian court ordered his release in July conditioned by a bail of 50 million Egyptian pounds on charges of graft.

Ezz was arrested in 2011 following the January uprising against toppled autocrat Hosni Mubarak.

He was the political secretary of the dissolved National Democratic Party, that was headed by Mubarak.

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