Egypt’s Court lifts travel ban on prominent businessman Salah Diab

Giza Criminal Court decided on Saturday to lift a travel ban imposed in November on Egyptian businessman and newspaper owner Salah Diab, who is charged with possessing unlicensed firearms at his home.

Diab is a co-founder of Al-Masry Al-Youm, one of Egypt’s most widely read daily newspapers.

On 8 November, he was detained for questioning on charges of possessing firearms; his detention was then renewed for 15 days. However, he was released on a LE50,000 bail after his lawyers presented reports of his chronic medical conditions.

His son was also detained on the same charges, then released with his father on the same day.

Following the investigations, the Egyptian stock exchange froze the assets of the business mogul and 16 others, following an official notice by the Egyptian prosecution banning the businessmen from trading in the market.

Diab is also facing charges of financial corruption.

The Public Funds Prosecution Bureau had received a complaint in 2011 that Diab along with several others had acquired agricultural land on the Alexandria Desert Road from the agriculture ministry at a very low price, and built tourist resorts on those plots in violation of the contract.

The prosecutor-general ordered in November that Diab’s assets be frozen along with those of his wife and a number of other associates, including other co-founders of Al-Masry Al-Youm.

source: Ahram online