News

Steel tycoon and Mubarak-era politician Ahmed Ezz released from prison

Steel tycoon and Mubarak-era politician Ahmed Ezz released from prison
Egyptian steel tycoon Ahmed Ezz is seen at a prosecution office after he left jail, in Cairo, August 7, 2014. REUTERS/Al Youm Al Saabi Newspaper
Egyptian steel tycoon Ahmed Ezz is seen at a prosecution office after he left jail, in Cairo, August 7, 2014. REUTERS/Al Youm Al Saabi Newspaper

Steel tycoon and former secretary-general of Hosni Mubarak’s National Democratic Party Ahmed Ezz has been released from prison on Thursday after paying EGP 100 million.

The business man and politician, who had also been accused of rigging Egypt’s 2010 parliamentary elections, had been standing trial since 2011 on charges of money laundering, illicit gains and other corruption charges.

Former chairman of Ezz Steel, Ahmed Ezz agreed to pay the hefty sum over nine month instalments to secure his release.

However, following his release, prosecutors opened a new investigation over other graft reports filed against him.

Ezz had received multiple jail sentences in the past three years but appealed all of them. Reports indicate the former steel tycoon is still to face trial in at least one other case.

Neverhteless, Mohamed Tanweer, a member of Ezz’s defense team told Aswat Masriya that Ezz “has settled all his fines and is not facing other charges.”

Ahmed Ezz was arrested in February 2011 shortly after the January 25 revolution that led to the ouster of former strongman and President Hosni Mubarak.

U.S. Military Launches Airstrike on ISIS
Child killed after Israel resumes air strikes on Gaza after rockets fired

Subscribe to our newsletter


  • Zobri

    A7a

News

More in News

Egypt's Karim Abdel Gawad and France's Camille Serme

Egypt’s Karim Abdel Gawad Wins Tournament of Champions in New York

Egyptian StreetsJanuary 21, 2017
22.jpg.crop_display

Cairo Court Lists Egyptian Football Legend Aboutreika on Terror List

Egyptian StreetsJanuary 19, 2017
32385636795_e6f5d7101d_z

Egypt Secure Spot in Knockout Stage at 2017 Handball World Championship

Egyptian StreetsJanuary 19, 2017
1073779_big-lnd

Egypt’s Essam El-Hadary Makes African Cup History

Egyptian StreetsJanuary 18, 2017
pol

Eight Policemen Killed in Attack in Egypt’s New Valley

Egyptian StreetsJanuary 17, 2017
Tiran Island

Egypt High Court Declares Void Transfer of Tiran and Sanafir to Saudi Arabia

Egyptian StreetsJanuary 16, 2017
Top-best-hd-wallpapers-dubai-skyline-hd-wallpapers-imagen-by-balamuda

Egyptians Invest EGP 13 Billion in Dubai Real Estate in 2016

Egyptian StreetsJanuary 15, 2017
A pharmacist searches for medicine at a pharmacy in Cairo, Egypt, November 17, 2016. REUTERS/Mohamed Abd El Ghany

Medicine Prices in Egypt Increased by up to 20%

Egyptian StreetsJanuary 13, 2017
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.