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Ezz Steel's former chairman jailed, fined $3.2bn
- Egypt: Sunday, October 07 - 2012 at 09:20
An Egyptian court has sentenced the former chairman of Ezz Steel to jail for seven years on graft charges, Reuters has reported. Ahmed Ezz, who was also the chairman of the former regime's National Democratic Party, was also fined EGP19.3bn ($3.2bn), judge Makram Awad said. In 2011, Ezz quit the board of Ezz Steel and its Ezz Dekheila Steel unit and denied any wrongdoing. The two companies were not mentioned in the ruling.
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