Mubarak’s assets to be up for auction if he fails to pay fine
Former President Hosni Mubarak - YOUM7/Salah Saeed

CAIRO: Former President Hosni Mubarak’s properties will be up for a public auction if he failed to produce 125 million EGP ($16.3M) he was ordered to pay per a Saturday ruling, former Appeal Court head Refaat al-Sayed told Youm7 Sunday.

“The Central Bank (of Egypt) is entitled to reserve all the Mubarak family’s properties, including lands and real estate, put them up for public auctions and make use of their yield,” Sayed said.

Mubarak and his sons Alaa and Gamal were also sentenced to three years in prison by the Cassation Court on charges of embezzlement of public funds allocated to renovate presidential palaces.

“The fine could be paid to the public prosecution either by checks or in cash by Mubarak himself or any of his family members,” Sayed added.

In May 2014, Mubarak appealed a three-year jail sentence, along with his two sons who were sentenced to four years in prison on the same charges. The recent ruling reduced Gamal and Alaa’s term by one year.

Recommend to friends

Leave a comment