account
search
search

Mubarak sons' trial adjourns for a month

  |   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.

Related UPI 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.
x
Feedback