Court upholds assets-freeze order on Mubarak minister of trade

El-Sayed Gamel El-Din, Tuesday 28 May 2013

Egypt's court refuses on Monday to lift the assets-freeze on ex-Minister of Trade Rachid Mohamed Rachid

Egypt’s criminal court turned down on Monday an appeal filed by Mubarak’s era Minister of Trade Rachid Mohamed Rachid against a court decision freezing his assets and that of his family members.

Rachid has appealed the decision of Egyptian illicit gains authority to freeze his family’s assets in March after he paid back LE15 million (roughly $2.2 million) relating to two cases of squandering public funds.

Last May, Egypt’s Criminal Court lifted  the assets-freeze order previously imposed on Rachid's wife.

Rachid, currently outside Egypt, served as the minister of trade under Egyptian toppled President Hosni Mubarak from 2004 to 2011.

In 2011, the former minister was sentenced in absentia to a total of 20-years in prison over graft and corruption charges.



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