CAIRO: Business tycoon Hussein Salem was sentenced to 10 years in prison Tuesday in absentia by the Alexandria Criminal Court, along with his son and daughter. He also was hit with a fine of 11 million EGP ($1.54 million.)
The tycoon was charged with wasting public money deliberately. Three of this 14 co-defendants were sentenced to seven years in prison, and the rest received one-year prison terms.
The Egyptian-Spanish Salem, along with former President Hosni Mubarak and his sons Alaa and Gamal also face charges of exporting Egyptian gas to Israel at prices below international market rates in return for receiving luxury villas and palaces.
After the January 25 Revolution Salem’s fortune and assets in Egypt were frozen; in February the Cairo Criminal Court rejected an appeal submitted by the grandchildren to lift the freeze on their assets and finances.