More former officials face shares freeze

Ahram Online, Tuesday 22 Feb 2011

Decision soon on action against Mubarak family contributions

Mohamed Abdel-Salam, the head of Egypt Settlement Company, stated that the company is continuing to freeze the shares of former officials, pointing out its recent action against more than 18 individuals.

He also told Ahram Online that the company is waiting for a decision from the prosecutor-general before freezing any shares belonging to Mubarak family companies in the stock market.

He indicated that there are contributions from some members of Mubarak’s family in a number of stock exchange companies which are in turn run by brokerage firms. These portfolios will be frozen at the request of the prosecutor-general.

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