Egypt Independent

Court denies Illicit Gains Authority request to freeze Shafiq’s assets

The Cairo Criminal Court has rejected a request from the Illicit Gains Authority to freeze the assets of former Prime Minister Ahmed Shafiq and his three daughters.

The court ordered the Illicit Gains Authority, which is part of the Justice Ministry, to cancel its previous decision to freeze the assets of Shafiq and his daughters Sherine, Mai and Amina, which would prevent them from disposing their liquid and movable funds, real estate, stocks, bonds and bank balances.

The authority had previously requested that the Cairo Court of Appeal support its decision.

Investigations and regulatory reports had raised suspicions about possible graft cases involving Shafiq, leading the authority to make its initial decision.

Decisions to freeze funds, either by the Illicit Gains Authority, the General Prosecution or investigating judges summoned by the justice minister, are temporary decisions that must subsequently be ratified by a criminal court. The decision lasts until the defendant is either referred to criminal court or the case is suspended.

Edited translation from MENA