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.
- Livelihoods trump lawlessness: young working Egyptians risk everything in Libya
- RIP: King Abdullah leaves behind profound legacy for the Saudi Economy
- Impetus from within: why the Arab World needs a very Arab 'Marshall Plan'
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming