Founder of an Egyptian newspaper Al-Masry Al-Youm referred to criminal court

Egypt’s Giza prosecution referred Thursday business tycoon Salah Diab to criminal court after being accused of possessing unlicensed firearms.

Giza prosecution decided last week to release Diab on 50,000 Egyptian pounds bail after his lawyers presented reports of his chronic medical conditions. His son Tawfik, who is charged on the same case, was released as well on 10,000 pounds bail after both family members spent three nights in detention over charges of possessing unlicensed firearms.

Diab was arrested early on 8 November at his villa in Giza on charges of possessing unlicensed firearms after security forces stormed his house on orders from the prosecution.

Diab’s arrest sparked controversy in Egypt’s business market as many businessmen have seen it as a drawback for Egypt’s economy.

Another Cairo criminal court cancelled last week a decision to freeze the financial assets of Diab, Mubarak-era business mogul Mahmoud El-Gammal, and 16 others, with only assets related to the New Giza housing compound project still frozen.

Diab, a business mogul and co-founder of Al-Masry Al-Youm, one of Egypt’s largest privately-owned daily newspapers, is accused along with 15 others of illegally acquiring state-owned land where their New Giza housing compound project is situated.

source : Ahram Online