Ahmed Ezz released, fined 50M EGP over illicit gains
Ahmed Ezz in the court - YOUM7/Ahmed Hassan

CAIRO: North Giza Criminal Court decided Tuesday to set free Egyptian businessman and figure of former President Hosni Mubarak’s regime Ahmed Ezz. He was fined 50 million EGP (US$ 9.6 million) over the illicit gains charges, Youm7 reported.

Steel tycoon businessman Ezz, 37, was arrested after the January 25 Revolution in 2011 and is still being tried in several cases.

On March 10, Ezz paid 2 million EGP as bail in the case of squandering 5 billion EGP in public money in the Dekheila Steel Company case.

The Giza Criminal Court sentenced Ezz in the case of seizure of shares of extraneous iron in March 2013.

Ezz was sentenced to seven years in prison in October 2012 over charges of laundering 6.4 billion EGP in illegally acquired funds between 2003 and 2011, in deals related to his acquisition of Ezz El-Dekheila (EZDK) steel plant.

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