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Africa North
Mubarak's sons to face new graft trial
2012-05-31
[Daily Nation (Kenya)] Deposed Egyptian dictator Hosni Mubarak's
...The former President-for-Life of Egypt, dumped by popular demand in early 2011...
sons, already on trial for corruption with their father, will face a new separate case for alleged corrupt stock market dealings, state media has reported.

The official Nile Television reported that Alaa and Gamal Mubarak would go on trial in a criminal court with seven other defendants. They and their father are facing a verdict on June 2 on corruption charges in the first trial.

The ex-president, who was toppled in an early 2011 revolt, also faces murder charges with seven security commanders for killings of protesters during the 18-day uprising that ended his three-decade rule.

The official MENA news agency reported the charges stem from the sale of Al-Watany Bank of Egypt.

The defendants had agreed on acquiring a majority of the bank's shares by buying out small shareholders through front companies without revealing it on the stock market, the agency reported.

They made more than two billion pounds (about $300 million) from the deal which they transferred abroad, the agency reported.

Gamal, 48, headed a powerful policy committee in the ruling party under his father and was widely seen as the heir apparent, a perception that helped fuel the uprising.
Posted by:Fred

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