Mubarak-era business tycoon Hussein Salem – File Photo
Mubarak-era business tycoon Hussein Salem – File Photo

Mubarak-era tycoon Hussein Salem returns to Egypt

Sat, Jul. 22, 2017
CAIRO – 22 July 2017: Spanish-Egyptian businessman Hussein Salem arrived to Cairo on Friday night, coming from Spain, after he reached a reconciliation agreement with the government.

He was accused of profiting from his relationship with ousted president Hosni Mubarak, and exporting gas to Israel for less than the global price in order to achieve personal benefits.

On 18 May, the Cairo Criminal Court has acquitted Salem in the retrial of his case of exporting gas to Israel.

The Egyptian authorities had announced a reconciliation with Salem if he’s willing to give up 75% of his properties, which are worth a value exceeding EGP 5bn.

Before Mubarak decided to step down, Salem traveled to Spain, worrying that the government would accuse him in many corruption cases.

In October 2011, the court sentenced him to seven years imprisonment for money laundering. The court also sentenced him to 15 years imprisonment in 2012 for exporting gas to Israel at cheap prices, as well as stealing areas of land.

In 2012, Spain’s Court of Appeal agreed to send Salem back to Egypt, but the Constitutional Court of Spain postponed the action again to decide if it violates his constitutional rights.

Then, in 2015, the court decided that Salem and another six defendants were to be acquitted in the case of exporting gas to Israel.
 
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