Last Update 20:53
Wednesday, 20 June 2018

Egypt seizes funds of 28 Brotherhood leaders, 12 firms owned by group members

Ahram Online , Thursday 18 May 2017
File Photo: Brotherhood businessman Hassan Malek (Photo: Al-Ahram)
Views: 3522
Views: 3522

The governmental committee tasked with appraising and seizing the funds of members of the banned Muslim Brotherhood group seized on Thursday the funds of 28 Brotherhood leaders, as well as 12 companies affiliated with the group.

In a Thursday statement, the committee, which was formed in 2014 and is headed by Mohamed Yasser Abo El-Fotoh, said that it confiscated the funds 11 members of the family of leading Brotherhood figure and businessman Hassan Malek, including the funds of his five children.

In November 2016, the committee said it had seized the assets of more than 1,370 people as well as 1,125 companies and NGOs since March 2014, with a total of at least $34 million in seized Brotherhood assets. 

The Muslim Brotherhood was designated a terrorist organisation by the Egyptian government in November 2013.

Malek has been in jail since October 2015 pending investigation into charges of harming the country's economy and financing the banned Brotherhood. His assets were seized by the committee in September 2014.

Earlier this month, a Cairo Criminal Court ordered Malek's release on an EGP 20,000 pending trial. However, after prosecurtors appealed the release order, a judge renewed his detention for 45 days.

The 12 firms seized by the committee today mainly operate in real estate investments, contracting, transportation and import and export, according to the committee’s statement.

The committee added that it has informed both the administrative and general prosecutions of financial and administrative violations in nine schools also seized by the committee.

Short link:


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.

© 2010 Ahram Online.