Egypt freezes assets of businessman Hassan Abul Fotouh
Egypt’s Attorney General has frozen the assets of Egyptian businessman, Hassan Abul Fotouh. The entrepreneur has been accused of forging letters of credit and the misuse of funds loaned to him by financial institutions, reported Al-Alam El Youm .
Fotouh’s court hearing for the repayment of $1.1 billion to institutions including Banque du Caire will be heard at the Cairo Appeals Court this week. The businessman is an owner of production licenses for BMW and Daewoo. — (menareport.com)
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