Egyptian Steel Tycoon Ezz Released on EGP50mn Bail

An Egyptian court ordered the release of steel tycoon Ahmed Ezz on Tuesday on EGP 50 million bail for charges of profiteering. Ezz was also ordered to be released on bail in other concurrent proceedings. His lawyer, Ahmed Shawki, told Ahram Online on Tuesday that if Ezz pays his cumulative bail and an unpaid EGP 100 million fine, he should be released from custody.

Source: Ahram Online