Ousted Egypt leader`s sons on trial for trading

Last Updated: Tuesday, July 10, 2012 - 09:47

Cairo: The ousted Egyptian president`s two sons have pleaded not guilty to charges of insider trading at the beginning of their trial in Cairo.

The two Gamal, once seen as heir apparent to his father, Hosni Mubarak, and businessman Alaa were acquitted of corruption charges on June 2.

The case was adjourned to September 8 to allow defense lawyers to read the file.

Prosecutors say the two, along with seven others, made 2 billion Egyptian pounds in illicit gains through actions that violated stock market regulations.

The nine are accused of conspiring to buy 80 percent of Al Watany Bank of Egypt and then selling it, knowing a Kuwaiti bank was about to buy.

PTI



First Published: Tuesday, July 10, 2012 - 09:47

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