Ahmed Ezz in his years as leader in Mubarak's National Democratic Party – Reuters Ahmed Ezz in his years as leader in Mubarak's National Democratic Party – Reuters

Ezz pays LE 1.8B in reconciliation deal with gov't

Wed, Feb. 28, 2018
CAIRO – 28 February 2018: Steel tycoon and Mubarak-era politician Ahmed Ezz will pay LE 1.8 billion, of which LE 600,000 million were withdrawn from abroad, in a reconciliation deal with the government announced Wednesday.

The deal was reached between him and National Committee to Retrieve State Funds, which is tasked with restoring smuggled money from abroad.

Ezz is accused of squandering the assets of Dekheila Steel Company, a charge he denies but he previously stated he would accept reconciliation to “make peace for the sake of Egypt.”

Ezz is a steel tycoon and former member of the now dissolved Democratic National Part (DNP) under former Egyptian President Hosni Mubarak.
In the aftermath of the January 25 Revolution he was arrested over corruption lawsuits regarding iron licenses, the misuse of public funds totally LE 660 million ($36.9 million).
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