Court dismisses case against Mubarak-era tycoon in reconciliation deal

An Egyptian court has dropped a lawsuit against a Mubarak-era business tycoon who was accused of corruption in the wake of the 2011 popular uprising that toppled the former president, Anadolu Agency has reported.

The Cairo Criminal Court has closed the case against Ahmed Ezz, who was also the secretary general of the now dissolved National Democratic Party that was headed by Mubarak. The court also reversed a travel ban that had been imposed on the defendant.

Ezz was accused of profiteering and wasting public funds. During the court session, the prosecution asked that the case be dismissed and a reconciliation deal with Ezz be agreed. According to Anadolu, the court ruling is final.

Last February, an official committee agreed a deal with Ezz whereby he would pay $96 million to the Egyptian government. According to a statement issued previously by Prosecutor-General Nabil Sadek, the deal stipulated that $33 million of the payment would be retrieved from abroad.

Read: Mubarak-era tycoon barred from Egyptian polls

Ezz is one of Egypt’s richest businessmen. He is known for his business interests in the iron and steel industry and his closeness to Mubarak’s son Gamal. Observers believe that Mubarak was grooming Gamal to succeed him as President before he was ousted in the 2011 uprising. As a businessman with close relations to ruling circles, as well as being a member of parliament and the secretary general of the ruling party, Ezz’s actions are believed to have contributed to the outrage that turned into the January 2011 Revolution.