Egypt court orders arrest of Mubarak's sons over stock market manipulation

Egypt court orders arrest of Mubarak’s sons

Egypt: Mubarak's sons arrested for alleged stock manipulation

The two sons of former Egyptian president Hosni Mubarak were arrested on Saturday for alleged stock manipulation, a judicial source said.

Alaa and Gamal, sons of Mubarak, alongside seven others have been accused of violating rules on the stock market and the central bank, in the bid to make unlawful profits.

The pair on Saturday attended a hearing at a criminal court in the capital, where Judge Ahmed Abdoul-Fetouh ordered their arrest, according to officials, who spoke to The Associated Press news agency on condition of anonymity.

Hearings are set to continue on October 20.

Alaa was not involved in politics, but is accused of having amassed a fortune through his father's contacts.

After three decades in power, Hosni Mubarak was deposed during the 2011 Arab Spring.

Three other men including Yasser El Mallawany and Hassan Heikal, current and former board members respectively at Egyptian investment bank EFG-Hermes, were also arrested, a judicial source said.

The case has been on since 2012 and the accused were released on bail, although banned from travelling. Since then, Mubarak and his sons have spent several spells in detention.

The two and their father were sentenced to three years in prison following their conviction on corruption charges in 2015. They have been free for the past three years.

Their sentences were covered by time already served, the AFP news agency reported.

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