EU Court upholds freeze on Mubarak's assets

CAIRO - 23 November 2018: The General Court of the European Union upheld on Thursday the decision of the Council of the European Union to freeze the assets of family members of former Egyptian President Hosni Mubarak.


"The General Court upholds the Council’s decision to freeze the assets of members of the Hosni Mubarak family, on the basis of judicial proceedings relating to misappropriation of Egyptian State funds," the court said according to the published statement.

The council had sufficient information about the political and judicial context in Egypt to adopt the decision, the statement added.

In September, Police arrested the two sons of former president Mohamed Hosni Mubarak, Gamal and Alaa, and sent them to Tora prison on Saturday, executing the Cairo Criminal Court's order to arrest them, in preparation for “Exchange Market Manipulation” case on October 20.

The defendants’ list include figures from Mubarak-era regime, such as Hassan Heikal, son of the late prominent journalist Mohamed Hassanein Heikal, Ayman Ahmed Fathi and Yasser al-Mallawani.

The court also sent the case file to the experts committee to finalize its report. The arraignment to Gamal Mubarak comprised being a complicit with public employees to illegally obtain LE493,628,646 by selling a national bank whereas he acquires shares through a company based in Cyprus.