UPI en Español  |   UPI Asia  |   About UPI  |   My Account
Search:
Go

Mubarak sons' trial adjourns for a month

|
 
Published: Oct. 10, 2012 at 9:52 AM

CAIRO, Oct. 10 (UPI) -- A court in Egypt has called for a one-month adjournment at the trial of two sons of deposed Egyptian strongman Hosni Mubarak and seven others.

The nine men are charged with manipulating the Egyptian Stock Exchange, al-Masry al-Youm reported.

The South Cairo Criminal Court decided on the adjournment to allow time for experts to determine the profit Gamal Mubarak made by selling Egypt's al-Watany Bank.

Gamal, his brother Alaa and seven other Egyptian businessmen are accused of gaining more than $328 million from the sale.

Assistant Prosecutor Adel al-Saeed said the defendants made a profit by manipulating the stock exchange.

They are accused of concealing their identities during bank share dealings through cluster companies and closed investment funds in Cyprus and the British Isles, and transferring their profits abroad.

Topics: Gamal Mubarak, Hosni Mubarak, Masry al-Youm
Recommended Stories
© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
Join the conversation
Most Popular Collections
'Star Trek Into Darkness' screening NBC upfronts Met Ball 2013
'Great Gatsby' premieres in New York Spire raised on top of One WTC 2013: Celebrity break ups and divorces
Additional World News Stories
1 of 16
Tornadoes Devastate Moore, Oklahoma
View Caption
A damaged movie theater is seen in aftermath of a series of tornadoes in Moore, Oklahoma, May 21, 2013. On May 20 a series of tornadoes swept through severals towns south of Oklahoma City leaving a path of destruction and killing at least 24 people. UPI/J.P. Wilson
fark
All in all it's just another brick in the haul
"If you're going to act like Nellie Olsen, you're going to dress like Nellie Olsen." Mom punishes...
Real estate tip: Just because your house overlooks a golf course doesn't mean it will always be...
Man breaks into fortune teller's home to get his money back after love spell fails. Guess she didn't...
Marijuana bacon. Dude
You run out of gas along the interstate. Do you A: Call a friend for help? B: Call a tow truck?...