The Egyptian prosecution office on Saturday ordered the release of business tycoon Salah Diab, the founder of the Al-Masry Al-Youm newspaper, on a bail of LE20,000 pending investigations over charges of illegal construction on state lands without obtaining a license.
Diab was present at the prosecution’s office on Saturday alongside his attorneys to pay the bail, and was promptly released.
He had been arrested and held in custody since the first of September.
Security sources told Al-Masry Al-Youm in September that authorities have arrested its founder, businessman Salah Diab as part of an investigation regarding his involvement in several financial cases.
Sixteen years ago, Diab embarked on an adventure to establish the Al-Masry Al-Youm newspaper, reviving the journalistic career of his grandfather Tawfiq Diab who was a pioneer in the history of Egyptian journalism, having founded various newspapers between the 1920s and 1930s – most prominently the “Al-Jihad” newspaper.
Salah Diab and his co-founders aimed to carry out a social, educational service through a new independent daily newspaper.