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Egypt court unfreezes investments of senior Muslim Brothers

Court of Appeal orders release of stock investments held by Khairat El-Shater and Hassan Malik who were convicted of money laundering in 2007

Ahram Online, Monday 20 Feb 2012
Khayrat el-Shater and Hassan Malek
File photo: Khayrat el-Shater, the lead strategist for Egypt's largest opposition group, hugs Hassan Malek, a prominent businessman and group financier, right, after they were released, outside Tora prison in Cairo (Photo: AP)
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Views: 1441

Egypt's Court of Appeal on Monday ordered the Egyptian Stock Exchange to unfreeze investments held by senior Muslim Brothers Khairat El-Shater and Hassan Malik.

The head of the court sent a letter with the order to the chairman of the stock exchange's clearing house.

Investments held by the wives and minor children of El-Shater and Malik will also be released.

A military court convicted the two men of money laundering in 2007. They were banned from managing their stock investments as part of the sentence.  

Both men were released from Tora Prison in March 2011.

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