The Cairo Criminal Court issued a judgement of acquittal for both the sons of former President Mohamed Hosni Mubarak and 6 others in the case known as "manipulation in the stock market".
The court acquitted on Saturday Alaa and Gamal Mubarak, along with Ayman Fathy Hussein Suleiman, Yasser Suleiman al-Mallwani, Hassan Mohamad Hassanein Heikal, Amr Muhammad al-Qadi, Hussein Lutfi and Ahmed Naim, over illegal profiting from share trading.
The ruling also included the termination of the criminal case of the accused, Ahmed Fathy Suleiman, for his death.
The trial was held at the Police Academy, and the verdict was issued under the chairmanship of Khalil Omar Abdel Aziz and court members Moustafa Rashad and Mohamed Sherif Sabry.
It is noteworthy that the former Attorney General Abdel Meguid Mahmoud decided in late May 2012 to refer the accused to the Cairo Criminal Court over Illicit enrichment accusations.
The Public Prosecution charged the accused, Gamal Mubarak, of his participation in the two ways of agreeing and assisting with public officials in financial crimes and obtaining with his companions the sums of 493.62 million pounds, by agreeing among them to sell Al-Watany Bank of Egypt to the National bank of Kuwait (NBK), accumulating Illicit enrichment through a company in Cyprus, which which managed the offshore fund.
The prosecution indicated that the defendants were able to dominate the bank's management and sell it in contradiction to the rules and procedures for disclosure in the stock exchange.
Alaa was also accused of profiting and obtaining financial amounts of about 12.25 million pounds through his purchase of the bank's shares based on the essential information from other defendants.
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