facebook
twitter
rss
account
search
search
X
Breaking News: Protesters march on Pakistan PM Nawaz's house
 

Mubarak sons' trial adjourns for a month

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

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.

© 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.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
St. Paul police arrest a black man for sitting on a bench waiting for his children
2
Ukrainian cargo plane crashes in Algeria killing seven
3
'Old Ironsides' sails across Boston Harbor before 3-year-rehab
4
Video: Free Syrian Army unleashes 'Hell Cannon' in fight against Assad
5
Boy being treated for brain tumor taken from hospital
Trending News
Video
x
Feedback