Steel magnate Ahmed Ezz was released from prison on EGP 250k bail and placed on a no-fly list. Ezz faces charges of illegally obtaining a steel production license “depriving the state of EGP 660 mn,” Al Masry Al Youm reports. Ezz and former Industrial Development Authority Chairman Amr Assal, a co-defendant in the case, were arrested in March. The two were previously handed down 10-year prison sentences for the case, but were granted a retrial on appeal in 2012.

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