Mubarak-era tycoon Hussein Salem acquitted of money laundering charges – Ahram Online

Cairo Criminal Court ordered the acquittal on Tuesday of Mubarak-era business tycoon Hussein Salem of money-laundering charges linked to the export of gas to Israel.

His son Khaled and daughter Magda, who were charged in the same case, were also aquitted on Tuesday.

Salem and his offspring were originally convicted in absentia in October 2011 and sentenced to 7 years in prison and over $4 billion in fines. However, he later appealed at the Court of Cassation, which granted him a retrial, the outcome of which was Tuesday’s aquittal.

Salem was accused of laundering more than $2 billion in profits he made from the deal, which was agreed between the governments of Egypt and Israel.

Earlier this year, Salems lawyer Mahmoud Kebbiesh, told Ahram Online that the “money laundering charges in connection with the gas export deal represented the last criminal case against Hussein.

Salem had faced various charges relating to the gas deal.

In 2012, he was sentenced to 15 years in prison in absentia after being convicted of corruption in connection with the same Israel gas deal. He was charged of being involvedin providing Egyptian natural gas to Israel at prices below the international market price.

He was later acquitted in a retrial in 2015, a ruling the prosecution later appealed. But he was finally acquitted by Cairo Criminal Court in May 2017.

Salem, who was granted Spanish citizenship in 2008, fled to Madrid soon after the 2011 revolution that ousted long-time president Hosni Mubarak. The businessman still resides in Spain, although there has been discussion of his possible return to Egypt.

Since 2011, Salem has been sentenced to several prison terms for corruption, money laundering, seizing state-owned land, bribery, and squandering public funds.

However, in 2013, he filed several requests with the prosecution to reconcile with the Egyptian state by paying large amounts of money in exchange for charges against him and his family members being dropped.

In mid-2016, the Egyptian government agreed to settle with Salem and his family members in three corruption cases, on the condition that he pays EGP 5.3 billion.

In February, an Egyptian court unfroze the assets of Salem and his family.

Salems lawyer Kebbiesh said previously that the businessman had the option of returning from Spain after the reconciliation deal with the government in 2016. However, the lawyer said he had no idea when he would return.

Short link:

Read the original:
Mubarak-era tycoon Hussein Salem acquitted of money laundering charges – Ahram Online

Related Post

August 22, 2017   Posted in: Egypt |

Fair Use Disclaimer

"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances."

Under the 'fair use' rule of copyright law, an author may make limited use of another author's work without asking permission. Fair use is based on the belief that the public is entitled to freely use portions of copyrighted materials for purposes of commentary and criticism. The fair use privilege is perhaps the most significant limitation on a copyright owner's exclusive rights.

Fair use as described at 17 U.S.C. Section 107:

"Notwithstanding the provisions of section 106 and 106A, the fair use of a copyrighted work, including such use by reproduction in copies or phono-records or by any other means specified by that section, for purposes such as criticism, comment, news reporting, teaching (including multiple copies for classroom use), scholarship, or research, is not an infringement of copyright.

In determining whether the use made of a work in any particular case is a fair use the factors to be considered shall include:

  • (1) the purpose and character of the use, including whether such use is of a commercial nature or is for or nonprofit educational purposes,
  • (2) the nature of the copyrighted work,
  • (3) the amount and substantiality of the portion used in relation to the copyrighted work as a whole, and
  • (4) the effect of the use upon the potential market for or value of the copyrighted work."