Dubai, United Arab Emirates (CNN) – The Public Prosecution in Egypt announced, on Saturday, the signing of a settlement and reconciliation with Ibrahim Suleiman, Minister of Housing during the era of former President Hosni Mubarak, and businessman Magdy Raseh, in exchange for payment of 1.3 billion pounds (84 million US dollars).
The Public Prosecution said, in a statement, that the National Committee for the Recovery of Funds, Assets and Assets Abroad, signed the settlement with Suleiman and the accused in a number of cases.
Among these cases is what is known as the land of “Sodic” and the “Green Belt”. The two faced accusations of profit and deliberate damage to public money, by selling it at less than its real value. The area of SODIC’s land in Sheikh Zayed City was about 2550 acres.
It is noteworthy that Magdy Raseh, Chairman of the Sixth of October Development and Investment Company (SODIC), is also the father-in-law of Alaa Mubarak, son of former President Hosni Mubarak.
On Twitter, Alaa Mubarak commented on the Egyptian prosecution’s announcement of reconciliation with Suleiman and Raseh, when he was responding to a tweet of one of his followers.
He wrote: “Ok, and was it also announced that Sudic was the main party in this reconciliation, and paid the largest part! And this is not important news !!”
@safe_kassb Ok, and was it also announced that SODIC was the main party in this reconciliation and paid the largest part! Otherwise, this is not important news !!
In recent years, similar settlement and reconciliation processes took place with a number of well-known businessmen during the reign of Hosni Mubarak.