Court acquits Hussein Salem of money laundering charges
Hussein Salem
Cairo - Egypt Today
The Cairo Criminal Court has acquitted Egyptian tycoon Hussein Salem and his son and daughter of money laundering charges.
The Salems had been accused of laundering more than two billion dollars in profit from a gas export deal between Egypt and Israel.
In October 2011, the court had sentenced the three in absentia to seven years in prison each and ordered them to pay a combined fine worth 4.6 billion dollars.
But the big wheel reconciled with the State in 2016, giving up about 5.4 billion pounds of his family's total assets - worth about 7.2 billion pounds - to the State.
The Salems then filed for retrials in all cases against them.
Source : Mena
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