Sunday, September 9, 2012

Gamal and Alaa Mubarak trial adjourned to 7 October

The ongoing corruption trial of Gamal and Alaa Mubarak, the sons of jailed former president Hosni Mubarak, was adjourned Saturday to 7 October, on which further documents will be supplied and witnesses questioned.

Mubarak's two sons face charges of violating stock market and central bank rules to make unlawful profits dealing in shares of Al-Watany Bank of Egypt.
In the previous court session in July, Gamal and Alaa Mubarak pled not guilty to the charges. Gamal Mubarak said the allegations against him were false and baseless, whilst his older brother, Alaa, said the charges were "lies and slanderous."
In Saturday's hearing, the prosecution accused Gamal Mubarak of involvement, along with a number of public employees, in a profiteering scheme related to Al-Watany Bank using an offshore account in the British Virgin Islands.
Also on trial at Cairo's Police Academy Court on the same charges are two former chief executives of investment bank EFG-Hermes, along with five other defendants.
In a separate case, Alaa and Gamal Mubarak were earlier acquitted of corruption charges.
Their father, Hosni Mubarak, received a life sentence for his responsibility in the killing of hundreds of peaceful protesters during the 18-day uprising in 2011 that toppled his rule.

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