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Business tycoon Hussein Salem joins frozen assets list

The general prosecutor has decided to freeze the assets of Egyptian businessman Hussein Salem on suspicion of corruption

Eslam Omar, Thursday 10 Mar 2011
Hussien Salem
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Cairo's Criminal Court confirmed in its Tuesday session a decision to freeze all the personal and family assets of well-known Egyptian businessman Hussein Salem.

The decision includes liquid and real estate assets, including stocks and bonds, until the court investigates charges raised against him.

Salem is an Egyptian businessman with investments in the fields of tourism and energy. He is the owner of most of Neama Bay hotels in Sharm El-Sheikh and is reported to be one of the closest friends of former Egypt President Mubarak and his son Gamal.

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