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Asharq Al-Awsat
Asharq Al-Awsat
World
Asharq Al-Awsat

Egyptian Court Orders Arrest of Ex-President Mubarak’s Sons over Fraud

This combination file images show Gamal Mubarak, left, and Alaa Mubarak, right, in Cairo, Egypt in January 2011. (AP)

An Egyptian criminal court ordered on Saturday the arrest of the two sons of former President Hosni Mubarak, reported the MENA official state news agency.

Alaa and Gamal Mubarak and seven other men were charged with stock market manipulation.

They are accused of violating stock market and central bank rules to make unlawful profits through dealing in shares of Al Watany Bank of Egypt.

They deny any wrongdoing.

Three other men including Yasser El Mallawany and Hassan Heikal, current and former board members respectively at Egyptian investment bank EFG-Hermes, were also arrested, a judicial source said.

All those accused in the case, which began in 2012, had been released on bail and barred from travel.

Security officials said the arrests were ordered by judge Ahmed Aboul-Fetouh before he adjourned the case's hearings until October 20.

Mubarak´s eldest son, Alaa, is a businessman. Gamal, a former banker, was widely viewed as being groomed for Egypt´s top job until Mubarak stepped down from his post in February 2011.

The pair had been free since 2015.

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