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Egypt refers Palm Hills chairman to court

Chairman of Egypt's leading developer PHD faces waste of public fund allegations

Reuters, Thursday 24 Feb 2011
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Egypt's public prosecutor referred on Thursday the chairman and chief executive of Palm Hills Development, Egypt's second-biggest listed real estate firm, to a criminal court on charges of wasting public funds.

Yasseen Mansour is one of several businessman -- along with Ahmed Ezz, steel magnate and chairman of Ezz Steel -- to face these charges.

The prosecutor also referred a former trade minister, Rachid Mohamed Rachid, who had already been charged with squandering public money, to a criminal court, the statement added.
 

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