Court Refuses To Release Ezz Pending Trial

Legal woes continued for Egyptian steel tycoon Ahmed Ezz on Sunday, after a criminal court shot down a complaint from his lawyers over his continued imprisonment.

Last September, Ezz and other codefendants were sentenced to 38 years in jail for illegally acquiring El-Dekheila steel plant.

A top Egyptian court in December ordered a retrial, however.

Ezz, who remains in prison, is to be retried on other corruption charges, including money laundering, illegally procuring steel licenses and receiving unmerited benefits from Egypt’s Industrial Modernisation Centre.

Overall, Ezz has received cumulative sentences of 60 years in prison, but his appeals have been mostly been accepted and he is to face a number of retrials.

Ezz is the former chairman of Ezz Steel and has a 55 percent stake in EZDK, the largest steel complex in the Middle East.

Source : Ahram