Wednesday, September 28, 2011

Egyptian steel magnate jailed for corruption

Ahmed Ezz and former industrial development chief Amr Assal sentenced to 10 years in prison and joint fine of $110.9m.

An Egyptian court has sentenced Ahmed Ezz, a steel tycoon, and Amr Assal, a former industrial chief, to 10 years in prison on corruption charges relating to the illegal sale of steel licences.

The two senior officials in the former ruling party of ex-president Hosni Mubarak also received a joint fine of $110.9m.

See full Article.