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Former Al-Ahram chairman released after settlement

Ex-Al-Ahram chairman Mamdouh El-Wali released from custody after settlement in graft case

Ahram Online , Wednesday 10 Sep 2014
Mamdouh El-Wali
Mamdouh El-Wali, Former Chairman of the Board of Directors of Al-Ahram Newspaper (Photo: Ahram)
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Former chairman of Egypt's state-affiliated Al-Ahram newspaper Mamdouh El-Wali was released from custody one month after Egyptian prosecutors ordered his arrest on 4 August for financial corruption charges.

El-Wali's release comes after a legal settlement between businessman Ihab Talaat and Al-Ahram was concluded on Wednesday, the case wherein El-Wali was involved.

The former chairman was accused of illegally writing off debt Talaat owed Al-Ahram during his term between September 2012 and July 2013.

Founded in 1875, Al-Ahram is one of Egypt's oldest newspapers. It has grown over the years to release a large number of other publications and is endowed with its own advertising agency and a printing press which issues most of the nation's private and public newspapers and publications. 

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