Egypt recovers $150 million from Mubarak era figures
Egypt's Public Funds Prosecution under the supervision of general attorney has recovered around 850 million Egyptian pounds for the state in addition to a land plot in Hurghada worth 162.5 million [Egyptian] pounds.
According to the Middle East News Agency (MENA), these funds were recovered within a period of 24 days.
The prosecution stated this procedure is part of "a new vision adopted by the prosecution to recover funds stolen and smuggled by a number of the former regime figures".
Once these figures return the smuggled funds, the cases filed against them are dropped.
The public funds prosecution has already taken the legal settlement procedures with the defendants who had obtained these lands and closed the cases filed against them.
- DP World’s profits soared by 41 percent in H1. What’s their secret?
- Kingdom’s SMEs hold stronger outlook for Q3
- Jordan's King Abdullah has a 10-year plan for the country's economy
- Dubai's economy could have an optimistic future with a 5.6 percent growth this year
- Ups and downs: Jordan's public debt is up and ratio to GDP is down
- Egypt reaches reconciliation deal with Mubarak-era figures
- Egypt: $1.8 billion recovered from Mubarak-era figures
- Egypt's public prosecution body calls head of Metro union over disruption
- Swiss freeze $300 million of Mubarak assets, according to reports
- Gulf states provide US$1 billion to post-Mubarak Egypt