The Cairo Criminal Court has, in absentia, sentenced fugitive business tycoon Hussein Salem, his fugitive son Khaled and his fugitive daughter Magda, to seven years imprisonment, and fined them US$4.6 billion for laundering money they earned from selling Egyptian gas to Israel. Former Petroleum Minister Sameh Fahmy is also accused in the case.
The public prosecutor said investigations revealed that Salem received money from foreign banks into his accounts at the National Societe Generale Bank and the Arab African Bank. He later transferred the accounts to his son and daughter in order to launder the funds.
Translated from the Arabic Edition
