The Criminal Court of Egypt this Saturday froze the assets of the local oligarch Ahmed Ezz and forbade him to leave the country as part of a re -consideration of the case of corruption. The investigation of the "Mubarrak era" will affect not only the businessman himself, but his whole family.
According to the new decision of the court, EZZ and his family will remain under state supervision, with the exception of the cottage in the prestigious area of Cairo belonging to one of the wives of the oligarch.
Earlier this year, Ahmed EZZ was released from the Egyptian prison, where he was serving a 60-year term for money laundering, corruption and illegal production of steel.
As previously reported, Ezz Steel planned to double the production of metal rolling in Egypt until 2018. The company planned the construction of two new metallurgical plants with a total capacity of 3 million tons of steel.
In the first half of this year, Ezz Steel received 302 million pounds ($ 45 million) of net profit.
Ezz Steel is the largest steel manufacturer in Egypt. The company specializes in the production of long and flat rental.
The Criminal Court of Egypt again froze the assets Ezz Steel
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Azovpromstal® 24 November 2013 г. 10:38 |
