Egypt: Prosecution Reclaims Billions of Pounds Lost in Land Sale

25 February 2015

Cairo — Egypt's public prosecution reclaimed on Wednesday 9 billion Egyptian pounds ($1.17 billion) initially lost during the sale of a piece of land to a giant real estate project.

Egypt's top prosecutor Hisham Barakat announced in a statement that he agreed to a settlement proposed by Talaat Moustafa Group, a leading real estate company in Egypt, to pay the sum of money.

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