Late MP’s heirs pay LE 27M to reconcile with state

CAIRO – 25 May 2017: Heirs of late parliamentarian Kamal el-Shazly paid LE 1.5 million ($82774.60) to the Illicit Gains Authority (IGA) Wednesday, clearing the last installment of a LE 27 million reconciliation deal with the state, legal sources revealed.

The family of the late National Democratic Party prime minister had requested to reconcile with the government, after being accused of using their father’s authority to achieve illicit gains.

They eventually paid LE 25.5 million early May and LE 1.5 million on Wednesday, a value estimated by the IGA committee, according to legal sources. Shazly’s heirs further gave up a number of illegally acquired real-estate property in favor of the state.

The government reclaimed a land owned by the family at Quaron Lake nature reserve in Fayoum governorate, and another LE 10 million plot of land by the Nile.

Following January 25 Revolution, the IGA decided to freeze the assets of Shazly’s wife, two sons and daughter, after the late prime minister had been accused of using his career to accumulate wealth in the form of real estate and bank deposits.

The government has been pursuing reconciliation agreements with Mubarak-era tycoons since the amendment of a penal code in 2015. In August 2016, IGA announced it had received a total of LE 301.9 in reconciliation deals with former officials and businessmen.

Early May, the reconciliation committee approved 12 new agreements, worth LE 93 million, rejected 7 requests, and delayed a few others.