The Cassation Court of Egypt removed the Ahmed Ezza steel magnate 37 years in prison

On December 14, on Saturday, the Cassation Court of Egypt canceled the 37-year prison term for a sentence against the steel magnate of Ahmed Ezza for the speculation and embezzlement of state funds. The case is closed, but the oligarch will continue to serve his sentence for other crimes. In general, after the overthrow of the Mubarak regime, Ahmed EZZ received 60 years in prison for various economic offenses.

Today's court decision was the response to the appeal of Ezz and six government officials who also passed through this episode related to the acquisition of the steel company EZZ Steel of the Metallurgical Plant in El Dikhelia. Today, EZZ has 55 percent in the joint -stock capital of EZZ DEKHEILA, the largest manufacturer has become in the Middle East of the previously known as the Alexandrian National Metallurgical Company.

Ahmed EZZ who remained behind bars disputes other accusations: in corruption, in laundering money and illegally obtaining a license for steel production in Egypt. In addition, the convict was obliged to compensate the state for damage in the amount of 19.5 billion Egyptian pounds (more than $ 3.3 billion).