Former Ezz Steel chair faces jail, huge fine

摘要

Ezz Steel's former chairman Ahmed Ezz faces a lengthy stay in an Egyptian prison, following a Cairo court's sentence against him last week. The Egyptian criminal court handed Ezz a ten-year jail sentence, a source at the steelmakerconfirmed to MB. Former industrial developmen chief Amr Assal was also sentened to ten years'imprisonment, accordingto news reports. The mill source declined to comment on reports that Ezz wa imprisoned over corruption and squandering of public funds. Another source close to the situation said thatthe latest verdict was connected with licences for a DRI project within the company, although he did not provide further detail.