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The two sons of ousted Egyptian President Hosni Mubarak are to be tried on suspicion of insider trading, Egypt's prosecutor-general has said.
The two sons of ousted Egyptian dictator Hosni Mubarak are to be tried on suspicion of insider trading, according to a statement by the prosecutor-general’s office.
Gamal, 48, and Alaa Mubarak, 50, are already on trial along with their father for abuse of power, and a verdict is due to be handed down on Saturday.
According to the BBC, the new charges will see the pair tried alongside seven others over allegations that they violated stock market rules to gain unlawful profits from shares in Al Watany Bank. Egypt’s deputy justice minister claims the brothers have $340 million in Swiss bank accounts, which have been frozen.
According to the Associated Press, one of the seven men charged along with the Mubarak brothers is the son of Mohammed Hassanein Heikal, Egypt’s most famous political writer and a long-time confidante of the late Egyptian leader Gamal Abdel-Nasser.
A date for the trial has not yet been announced. The seven other people charged in the case have been bailed but are banned from leaving Egypt.
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Both brothers are in jail in Cairo awaiting the outcome of their trial over alleged abuse of power. According to the Agence France Presse, Gamal headed an important policy committee in his father’s ruling party, and was widely seen as his heir apparent, a view that helped fuel last year’s uprising against Hosni Mubarak.
Alaa remained outside politics but was believed to have amassed a fortune through his father’s connections. The brothers are expected to be sentenced to between five and 10 years in jail if found guilty of abusing power to gain wealth on Saturday.
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