Steel tycoon Ahmed Ezz submits LE 660M reconciliation

CAIRO – 23 August 2017: Mubarak-era steel tycoon Ahmed Ezz submitted on Wednesday, a reconciliation request to the National Committee to Retrieve State Funds.

Ezz offered retrieving LE 660 million ($37 million) to drop the case of squandering public funds of Dekheila Steel Company and to remove him from travel-ban list.

Egyptian businessman, Ahmed Ezz, convicted of embezzlement, was bailed out on July 6 after resorting to reconciliation with the state in the steel licensing lawsuit.

Ezz paid a bail of LE 250,000 ($14,059). Defending himself before the public prosecution, Ezz stated, “I will reconcile with Egypt, and will be buried here.”