Gamal, Alaa Mubarak have remands extended 15 days

Arrests extended after investigators probe brothers' wealth; 2 charged with grabbing illegal wealth, illicit funds from gas, stock market.

By JPOST.COM STAFF
May 30, 2011 20:42
1 minute read.
Alaa, Gamal Mubarak visit Sadat monument

Alaa, Gamal Mubarak_311. (photo credit: Reuters)

 
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Alaa and Gamal Mubarak had their remands extended an additional 15 days after initial investigations in the Mubarak brothers' assets, pan-Arab news channel Al-Arabiya reported. The two brothers signed a statement in Arabic, English and French to disclose their accounts both in and outside Egypt.

Earlier this month, Egyptian newspaper Al-Masry Al-Youm reported that Gamal Mubarak, the son of former Egyptian president Hosni Mubarak, is being investigated for allegedly taking five percent of the money made from natural gas sales to Israel to his own personal account.

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'Mubarak's son stole profits from gas sales to Israel'

According to the report, Gamal, who man Egyptian believed was being groomed to takeover power from his father, also used his influence to obtain five percent of the revenues for businessman Hussein Salem.

As for Gamal's brother Alaa, Chinese Xinhua News reported that Egypt's assistant justice minister charged the older brother with attempting to grab illegal wealth along with his Gamal and their father. He is also charged with joining the former chief of the stock market in gaining illicit financial interests.

The two are being held in Cairo's Torah prison for questioning. 

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turmoil in the Middle East



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