Last Update 16:8
Monday, 16 September 2019

Egypt requests unfreezing of Hussein Salem's assets abroad following reconcilation

Ahram Online , Tuesday 23 Aug 2016
Egypt
Egypt's Businessman Hussein Salem (Reuters)
Share/Bookmark
Views: 3901
Share/Bookmark
Views: 3901

Egypt's prosecutor-general sent on Tuesday a request to judicial authorities in three countries to unfreeze the assets and funds abroad of once-fugitive Egyptian business tycoon Hussein Salem and his family following a final reconciliation with the Egyptian government.

In an official statement by the prosecutor-general's office, top prosecutor Nabil Sadek – who is also the chief of a national committee to retrieve funds and assets abroad – sent the official requests to Switzerland, Spain and Hong Kong after the business mogul gave up EGP 5.3 billion (approx. $596.5 million) to the government.

This figure accounts for 75 percent of his assets inside and outside Egypt, Adel Al-Sayed, a justice ministry aide for the Illicit Gains Authority, told reporters last week.

Sadek also sent a request that Interpol remove the names of the businessman and his family from the "red notice," as well as the removal of their names from the arrival-watching lists.

Salem, 82, fled to Spain shortly after Egypt’s 2011 uprising that overthrew long-time president Hosni Mubarak. He has received two jail terms in absentia over corruption charges including squandering public funds, profiteering and money laundering.

Salem was a major shareholder in East Mediterranean Gas, which exported gas to Israel.

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.
Latest

© 2010 Ahram Online.