Stock market ordered to freeze Shafiq assets

Stock market ordered to freeze Shafiq assets

On

Tue, 20/11/2012 - 14:46

The Egyptian Stock Exchange received directives from the Justice Ministry’s Illicit Gain Authority to freeze bonds and securities owned by former presidential candidate Ahmed Shafiq, his wife and daughters, stock market sources told the state-owned news service MENA Tuesday.

The corruption agency made the directives as per a decision by its president that followed complaints filed against Shafiq.

Shafiq, who was the last prime minister under ousted President Hosni Mubarak, traveled to the United Arab Emirates in the wake of his loss in the presidential election against President Mohamed Morsy in June.

Authorities have placed Shafiq on airport watch lists. He currently stands trial in absentia for corruption cases, one of which involves Mubarak’s sons, Alaa and Gamal.

Activists accuse Shafiq of escaping trial and demand his arrest and extradition. His supporters believe that he did not flee justice.

Edited translation from MENA