Al-Masry Al-Youm reported that Cairo Criminal Court on Sunday postponed the money laundering trial of businessman and former Secretary of Organizational Affairs of the disbanded National Democratic Party Mr Ahmed Ezz to 5 February.

Attorney General Mr Abdel Meguid Mahmoud charged Mr Ezz on 3 November with money laundering nearly EGP 6.5 billion, which Mr Ezz gained from seizing public money and profiteering.

The prosecution added that investigations revealed that Mr Ezz had invested some of the money to establish companies for himself, his wife and his children, and that he transferred public monies to his own bank accounts and the accounts of companies owned by him abroad.

Giza Criminal Court is currently reviewing the case of public money squandering by Dekheila Steel Company in which Mr Ezz, former Industry Ministrer Mr Ibrahim Mohamadein and seven of the company officials are charged.

The court found Mr Ezz guilty in September in another case of squandering public money. It also ordered that he be imprisoned for 10 years for getting licence for producing sponge and billet iron for free without public auction.

(Sourced from Al-Masry Al-Youm)