Egypt frees steel tycoon Ahmed Ezz on bail

Ahmed Ezz, a senior leader in Egypt"s former president Hosni Mubarak"s party and chairman of Ezz Steel, arrives outside the court in north Cairo February 23, 2011. (Reuters)

An Egyptian court on Thursday released on bail Ahmed Ezz, a steel tycoon seen as the symbol of corruption during the era of ousted dictator Hosni Mubarak, judicial sources said.

Ezz, the secretary general of Mubarak's now dissolved National Democratic Party, paid 100 million Egyptian pounds (about $ 14 million or 10 million euros) as bail.

Ezz, the former owner of Ezz Steel -- Egypt's largest steel manufacturer -- was jailed within days after a popular uprising ousted Mubarak in February 2011.

He was initially charged with embezzling more than six billion Egyptian pounds.

Ezz is being retried in several cases after the cassation court overturned his sentences.

He release comes as the key members of Mubarak's regime are undergoing a rehabilitation in public opinion after the overthrow of Mubarak's Islamist successors by the army.

The current prime minister, Ibrahim Mahlab, himself was a member of the National Democratic Party.

Mubarak himself is still on retrial for alleged involvement in the deaths of some of the roughly 800 people killed during the 18-day uprising that ended his rule.

He was sentenced in May to three years in jail on separate corruption charges.


Last Update: Wednesday, 20 May 2020 KSA 09:44 - GMT 06:44