Nassef Sawiris’ legal team have appealed a court ruling which sentenced him to three years in prison.
“As a result of the appeal, the ruling was suspended and rendered unenforceable immediately following the ruling,” Orascom Construction Industries (OCI) SAE, an Egyptian construction and fertilisers group, said in a statement today.
Yesterday, Egyptian billionaire and CEO of OCI Nassef Sawiris was sentenced to three years in prison and fined 50 million Egyptian pounds for failing to pay cheques to the Egyptian Tax Authority.