IGA cut LE 700,000 of money owed by Boutros-Ghali

CAIRO – 30 September 2017: The Illicit Gains Authority reduced the estimated value of the former Minister of Finance Youssef Boutros Ghali’s illegally gained fortune by LE 700,000 ($39,677), according to sources in the authority.

The authority accused Ghali of exploiting his position and influence to collect his fortune which is estimated by experts of the Ministry of Justice at LE 400 million.

Ghali was sentenced in absentia to life in prison in a corruption case in 2016, but his lawyer offered reconciliation with the government. The Illicit Gains Authority accepted the offer of Ghali as well as other Egyptian businessmen and Mubarak-era figures.

Boutros Ghali, whose uncle Boutros Boutros Ghali was U.N. secretary general from 1992 to 1996, served as finance minister under deposed President Hosni Mubarak.

Ghali was accused of squandering LE 13 million of public funds in a transaction involving coupons used for the distribution of subsidized cooking gas.

Many former officials were convicted on graft and other charges since Mubarak was toppled in the January Revolution.