Egyptian authorities to investigate Mursi’s family wealth

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Egyptian authorities have begun investigating former President Mohammad Mursi’s family wealth and assets on Saturday, local news website Ahram Online reported.

Egypt’s general prosecutor opened the investigation into the ousted Islamist president’s wealth, after a report was filed by the head of an anti-corruption association.

The report accuses Mursi of taking advantage of his posts and squandering $285.7 million during his election campaign.

The committee expected to submit a report in the coming days is formed by Egypt's Illicit Gains Authority, the Public Funds Investigation Authority and the Administrative Control Authority.

The report will be looking into an inventory of all the properties including land and real estate of the ousted president, and those belonging to his wife and children in all governorates, a judicial source told Ahram Online. The family’s bank accounts and as well as their shares in the stock market - if they exist - will also be examined.

Egyptian prosecutors froze the assets of 14 prominent Islamists including Muslim Brotherhood General Guide Mohammad Badie and strong businessman and deputy leader Khairat el-Shater in in July as part of investigations into alleged “incitement of violence” in Muslim Brotherhood protests.

Prosecutors referred deposed president Mursi to stand trial early this month on charges of committing and inciting violence. He is also being investigated over his escape from jail during the 2011 uprising against Hosni Mubarak and accused of murder and conspiring with the Palestinian group Hamas during the prison break, though no formal charges have been brought in that case.

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