REUTERS
Alaa and Gamal Mubarak, right, sons of former Egyptian president Hosni Mubarak.
Cairo - Hosni Mubarak’s two sons were accused on Wednesday of insider trading in a new case opened just three days before they and their father are to hear the verdict in a separate trial on charges of corruption and complicity in killing protesters during last year’s uprising.
Mubarak and his two sons, the one-time heir apparent Gamal and wealthy businessman Alaa, have been in prison since April last year.
A statement by the prosecutor-general’s office on the new charges said the Mubarak sons, along with seven others, made EGP2 billion (R2.8bn) in illicit gains. Their actions violated central bank and stock market regulations, it said.
The nine are accused of conspiring to stealthily buy a controlling 80 percent stake in Al Watany Bank of Egypt without declaring their share to the stock market authority. They later traded its shares through closed funds and investment companies based abroad.
The seven other defendants are free on bail but banned from leaving the country. – Sapa-AP
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