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)

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: