Asset-freeze of Salah Diab and businessmen reduced to New Giza land
Egyptian Business tycoon Salah Diab

CAIRO: Cairo Criminal Court revoked an earlier decision to freeze all assets of the owner of al-Masry al-Youm newspaper Salah Diab and 17 other businessmen, only freezing their control over luxurious compound New Giza, Youm7 reported.

Egypt’s Attorney General Nabil Sadek ordered Nov. 6 that the assets of 18 businesspersons be frozen. They include business tycoon Diab and his wife, Gamal Mubarak’s father-in-law Mahmoud al-Gammal and his wife and minor daughter, and members of other families.

While all the defendants have not been jailed, Diab was arrested along with his son Nov. 8 at his home on charges of possessing unlicensed firearms. On Tuesday, he was ordered detained for 15 days over the unlicensed weapons.

The defendants face several charges including purchasing a large piece of land in 6 October City to construct luxurious compound New Giza at a below-market price.

Officials at the Ministry of Agriculture are accused of selling swathes of lands allocated to agricultural reclamation on Cairo-Alexandria Desert Road to the businessmen at cheap prices.

The land was bought before President Hosni Mubarak was ousted in 2011.

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