Egypt's former Capital Market Authority head accused of corruption

Reuters, Wednesday 1 Jun 2011

Ahmed Saad is banned from leaving the country after being charged of conspiring with Alaa Mubarak

An Egyptian panel investigating corruption cases committed under deposed President Hosni Mubarak has banned the former head of a market regulator from leaving the country, the state news agency MENA said on Tuesday.

The panel previously accused Ahmed Saad, former head of Egypt's Capital Market Authority, of cooperating with Mubarak's son Alaa, MENA said.

Alaa is being held in a Cairo prison on charges of profiteering and abuse of power.

Ahmed Saad is the latest in a string of former officials and businessmen to be questioned in the wake of Mubarak's overthrow on 11 February.

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