Egypt refers Palm Hills chairman to court

Reuters, Thursday 24 Feb 2011

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

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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