Egypt’s Court Unfreezes Assets Of Tycoon Ibrahim Kamel

Cairo Criminal Court decided yesterday to retract a decision by the Illicit Gains Authority to freeze the assets of businessman Ibrahim Kamel.

Kamel was a prominent member of Hosni Mubarak’s now-dissolved National Democratic Party (NDP).

Head of the Authority, Yehia Galal, had decided in November to block the businessman’s access to his assets pending investigations in reports that suggested he may have increased his wealth through illegal means such as abusing his power as politician.

Kamel was recently acquitted from charges of complicity in the killing of peaceful protesters that toppled Mubarak’s regime.

Mubasher