AhlulBayt News Agency

source : Press TV
Thursday

31 May 2012

8:22:00 AM
318896

Mubarak sons to face new trial for insider trading

Deposed Egyptian dictator Hosni Mubarak's sons, already on trial for corruption with their father, have been charged with insider trading and referred to trial before a criminal court.

(Ahlul Bayt News Agency) - The official Nile Television reported on Wednesday that Alaa and Gamal, along with seven other defendants, made illicit gains from the sale of a bank.

Mubarak and his two sons, already in prison, are facing a verdict on June 2 on corruption charges in the first trial. Gamal was once regarded as his father's heir apparent and Alaa was a wealthy businessman.

The former Western-backed dictator is being trialed for charges of complicity in the death of some 900 protesters during the popular revolution last year that ended his three-decade rule. He could get the death penalty if convicted.

The defendants are accused of acquiring a majority of al-Watany Bank shares by buying out small shareholders through front companies without revealing it on the stock market.

The verdict will come at a sensitive time as Mubarak's last premier, Ahmed Shafiq, battles Muslim Brotherhood candidate Mohammed Morsi in the country’s presidential election runoff on June 16-17.

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