Egyptian MPs call for investigation into Mubarak’s son after Panama leaks

Egyptian lawmakers on Monday called on the parliament to investigate allegations that Alaa Mubarak, the eldest son of ousted former Egyptian President Hosni Mubarak, possessed an offshore company following a global leak of documents from a Panama-based law firm over the weekend.

According to the International Consortium of Investigative Journalists (ICIJ), Alaa Mubarak owned the British Virgin Islands registered company Pan World Investments Inc., which was managed by Credit Suisse.

The lawmakers have also called to activate a law to return embezzled funds and demanded the government declare the latest developments in the recovery of funds stolen by the Mubarak regime.

The Egyptian authorities formed a committee in June 2015 which included executive and judicial figures under the chairmanship of Egypt’s prosecutor to prepare a report to the parliament every three months.

Alaa and his brother Jamal were imprisoned two months after the ousting of their father in January 2011. In May 2015 they were sentenced to three years in prison on charges of embezzlement. They were released in October 2015.