Court greenlights disclosure of former Al-Ahram, Ahly Club heads’ assets

The Cairo Court of Appeals agreed Sunday to order the disclosure of secret bank accounts owned by former chief editor of state-run Al-Ahram newspaper Ibrahim Nafaa and Ahly Club head Hassan Hamdy.

Investigations have alleged that both men illicitly profited from their posts. Hamdy was the longtime head of Al-Ahram Advertising Agency, and Nafaa served as the CEO of Al-Ahram newspaper.

The court requires that all Egyptian and foreign banks operating in Egypt disclose accounts and any transactions made by Nafaa or Hamdy.

On 9 October, the Justice Ministry’s Illicit Gains Authority froze Hamdy’s assets and issued a summons for Nafaa to interrogate him about his allegedly inordinate wealth.

The same court will consider on Tuesday and Wednesday the pair’s challenges to the asset freeze.

Edited translation from MENA

Related Articles

Back to top button