Mubarak Sons Trial Delayed To October 9th

Giza Criminal Court, held at the Police Academy, postponed the trial of Gamal and Alaa Mubarak and six other businessmen in the stock market manipulation case to October 9th to resume questioning the first and the second witnesses. The court will reveal how the accused made unlawful profits through violating stock market rules.

On Sunday’s session, Maher Ahmed Salah El-Din, head of the central administration of dealer complaints at the Egyptian Financial Supervisory Authority, said he headed the mandatory committee assigned by the general prosecution to examine the transactions made among EFG Hermes, public-sector companies and banks’ funds.

He said the purchasing deal of Al Watany Bank of Egypt violated the rules of the stock exchange and the Central bank of Egypt (CBE).

The defendants face charges of market manipulation by acquiring Al Watany Bank of Egypt and making unlawful profits of EGP 2,051,028,648.