Last Update 23:5
Sunday, 13 October 2019

Those convicted of illicit gains encouraged to utilise Egypt's reconciliation amendments

The amendments allow reconciliation between the defendant and the state after illegally gained money is returned

Ahram Online , Monday 12 Oct 2015
Zend
President of Egypt's Judges Club Ahmad Al-Zend (Photo: Al-Ahram)
Share/Bookmark
Views: 1157
Share/Bookmark
Views: 1157

Justice minister Ahmed El-Zend is calling on those convicted or investigated by the Illicit Gains Authority to take advantage of the new amendments to the reconciliation law, which allow settlements between the defendant and the state after the illegally gained money is returned.

The deputy justice minister Adel Saied said in a statement that the amendments, which have been in effect since 21 August, aim to support public interest and facilitate the recovery of public funds.

Saied added that the acceptance of reconciliation and the return of public funds offers the defendant a number of benefits specified by law, such as termination of the criminal case and all related restrictions, including travel bans and money freezing.

Among the benefits of reconciliation is the termination of related cases, such as money laundering.

Saied pointed out that, in the case of reconciliation during the investigation process, the suspect would only have to return the illegally gained amount of money to the state.

If reconciliation occurs during a trial, the defendant must return the funds along with a fine equaling the illegally gained sum, effectively doubling the amount the defendant must pay.

Egypt has more than one agency working on returning its stolen funds. These include the illicit gains authority and the money-laundering unit at the central bank. 

The state hopes to recover illegally gained funds amid the current economic crisis.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
1



Tamerlane
13-10-2015 05:24pm
0-
3+
Steal all you want
"in the case of reconciliation during the investigation process, the suspect would only have to return the illegally gained amount of money to the state". So basically you can steal as much as you want and if you're ever caught, all you have to do is return the money and you're in the clear. Guy who thought of this has the IQ of a goat.
Email
 
Name
 
Comment's Title
 
Comment
Latest

© 2010 Ahram Online.