Mubarak brothers accused of exploiting influence for gain

Mubarak brothers accused of exploiting influence for gain

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Mon, 18/04/2011 - 19:38

Investigations into Gamal and Alaa Mubarak, the sons of ousted President Hosni Mubarak, suggest that they exploited their official positions in order to obtain public funds, said judicial sources on Monday. The two sons deny any involvement in acts of corruption.

According to official investigations, Gamal used his influence in the National Democratic Party and as son of the president to award contracts to foreign companies in which he was a partner.

During questioning, Gamal said he had private business dealings and partnerships with Egyptian businessmen in the areas of real estate, stocks, and import/export. He went on to say that he used the profits from the few shares he owned to increase his holdings.

Gamal also claimed that he had owned shares in a company in Cyprus, which he sold in 2002 in order to fund the Future Generation Foundation. Gamal denied allegations of awarding contracts to foreign companies through direct order, saying that the prosecutor could verify his statements by asking the other ministers incarcerated in Tora prison.

Meanwhile, the prosecution accused Alaa Mubarak of exploiting his influence to secure interest-free funds from an Italian company in exchange for government benefits. Alaa denied the accusations, saying he was only interested in his family and his business, and that he had nothing to do with his father or his policies.

Translated from the Arabic Edition