Cabinet receives 12 reconciliation requests over squandering public funds

CAIRO – 31 July 2018: The reconciliation over squandering public funds commission affiliated to Illicit Gains Authority received on Monday 12 reconciliation requests regarding squandering public funds worth LE9 million.

Earlier this month, senior official sources said that the reconciliation commission received 62 requests from state officials and businessmen charged with squandering public funds to settle their cases after paying a reconciliation fine set by the law, and pledging to oblige by a number of administrative measures to ensure compliance with the law.

The sources pointed out that the commission rejected 28 requests for lack of seriousness and failure to meet the legal requirements, and decided to postpone their decision regarding 11 other reconciliation requests until their examination is completed.

The reconciliation requests came in accordance with the new Reconciliation Law amendment, Article 18, of the criminal procedure law, issued in October 2015. The amendment stipulates that it is permissible to reconcile with defendants accused of criminal offenses and misdemeanors punishable by law, after the payment of a fine.

In April, Cairo Criminal Court dropped the last corruption case against Egyptian steel tycoon Ahmed Ezz per the Reconciliation Law.

The court dropped charges of squandering LE 5 billion of public money in the Dekheila Steel Company case. Ezz and three others have reconciled with the Egyptian government, paying LE 1.7 billion ($96.4 million) for dropping all corruption cases against them.

In June 2011, Ezz, along with former Minister of Industry Ibrahim Mohamedein, Managing Director of Dekhila Steel Alaa Abul Kheir, and other company officials, was referred to trial on charges of profiteering and squandering around LE 5 billion of public funds between 2001 and 2011.

Ezz’s charges also included selling Dekheila products to his own company at below-market prices.