Egypt Court Acquits Ahmed Ezz Over Steel Monopoly Case

Egypt’s Economic Misdemeanors Court acquitted on Sunday Mubarak-era steel magnate and former ruling party leader Ahmed Ezz in a case related to monopolizing the country’s steel industry.

Also acquitted in the case were Alaa Abu Kheir, managing director of the Dekheila Steel Company, and Samir Rauf Noaman, the company’s sales manager.

The defendants were not brought to court as the verdict was pronounced for security reasons. They had been referred to trial by the Public Funds Prosecution on charges of illegal monopolistic practices in the distribution of steel, which violated the country’s anti-monopoly law.

Ezz is also being retried on charges of obtaining free licenses for his steel factories. He was also sentenced in March to 37 years on charges of illegally obtaining stocks at the state-owned Dekheila Steel Company.

Ezz resigned as the National Democratic Party’s secretary of organization during the January 2011 uprising that toppled former president Hosni Mubarak.