Egypt: Former steel tycoon sentenced to 10 years in prison
An Egyptian court on Thursday sentenced steel magnate Ahmed Ezz and former industrial development chief Amr Assal to 10 years in prison and a joint fine of US$111 million for corruption under Hosni Mubarak regime. Additionally, the court sentenced former Trade and Industry Minister Rachid Mohamed Rachid in absentia to 15 years and a fine of 1.4 billion Egyptian pounds, Reuters reported.
The presiding judge said it would be up to Ezz, who was a senior ruling party member before Mubarak's ouster and Assal to pay the fine between them, representing the total of public money he said they had wasted. Ezz appeared in court wearing a prison uniform behind a defendants' cage. He is entitled to appeal the case.
Ezz, Assal and Rachid were all found guilty of collaborating to grant licenses without payment of fees.
Rachid, believed to be in Dubai, was sentenced to another five years in July for misusing public funds. He also received a five-year sentence in June for profiteering and squandering public funds.