Egypt : 2 sons of Mubarak released on bail

Gamal Mubarak, left, and Alaa Mubarak, right. Photo : RR

Casablanca, Morocco (ADV) – The two sons of ousted Egyptian President Hosni Mubarak were released on bail pending trial over their alleged manipulation of the country’s stock market, the official MENA news agency reported Thursday.

Cairo Criminal Court decided to release Mubarak’s two sons Gamal and Alaa, along with five other defendants, on bail of 100,000 Egyptian pounds each (about 5,600 U.S. dollars) and set Nov. 20 for the resumption of their trial.

The defendants are facing charges of violating the rules of Egypt’s stock exchange market and the Central Bank of Egypt to make illegal profits through acquiring majority of shares in several banks and keeping the stock market in the dark regarding their agreements. Enditem

© Bur-csa – ADV