{"id":624924,"date":"2018-09-23T04:26:51","date_gmt":"2018-09-23T04:26:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/awb-defendants-freed-on-egp-100k-bail\/"},"modified":"2018-09-23T04:26:51","modified_gmt":"2018-09-23T04:26:51","slug":"awb-defendants-freed-on-egp-100k-bail","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/awb-defendants-freed-on-egp-100k-bail\/","title":{"rendered":"AWB defendants freed on EGP 100k bail"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-09\"><\/a> <strong>**#9 AWB defendants freed on EGP 100k bail: <\/strong>The sons of former president Hosni Mubarak and three others were freed on a EGP 100k bail each on Thursday, following their arrest the previous weekend on charges of insider trading stemming from the sale of Al Watany Bank of Egypt to the National Bank of Kuwait in 2007. A new hearing has been set for 20 November, <u><a href=\"https:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N1W658F\">Reuters reports<\/a><\/u>, citing statements from a court witness. The defendants, whose arrest led the stock market to suffer its <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/17\/arrests-over-alleged-stock-market-manipulation-trigger-egx-sell-off\/\">biggest one-day dip<\/a><\/u> in a year and half, have denied the charges and were reportedly divided on whether or not to <u><a href=\"https:\/\/enterprise.press\/stories\/2018\/09\/18\/cairo-criminal-court-gives-al-watany-bank-insider-trading-case-defendants-until-20-october-to-decide-on-settlement\/\">accept settlement terms<\/a><\/u>. The group \u2014 which includes former EFG co-CEOs Yasser El Mallawany and Hassan Heikal, among others \u2014 were given until 20 October to decide.<\/p>\n<p><strong>Judge to be replaced? <\/strong>The ruling came just after an appeals court approved a motion by defense lawyers to replace the judge presiding over the case, <u><a href=\"https:\/\/www.apnews.com\/8666ed91bd8e44dba1c60327fbe1d192\">according to the Associated Press<\/a><\/u>. <u><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2018-09-20\/egypt-court-frees-mubarak-sons-on-bail-in-stock-market-case\">Bloomberg also has the story<\/a><\/u>.<\/p>\n<p><strong>Separate court ruling kills any chance Gamal will be able to get back into politics: <\/strong>The Court of Cassation rejected a motion by Hosni Mubarak and his sons to overturn their conviction for having embezzled public funds, <u><a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1325583\">AMAY reports<\/a><\/u>. By upholding the conviction, for which they have already served their jail sentences, the Court of Cassation effectively ended any chance the Mubaraks have in returning to the political scene, <u><a href=\"https:\/\/www.washingtonpost.com\/world\/middle_east\/egypt-court-upholds-corruption-conviction-of-mubarak-sons\/2018\/09\/22\/c4c11686-be6b-11e8-8243-f3ae9c99658a_story.html?noredirect=on&utm_term=.36c1328ba8f1\">writes the AP\u2019s Hamza Hendawi<\/a><\/u>. The decision comes weeks after pro-administration journalists lambastic public appearances by the Mubaraks and warned them against trying to return to political life.<\/p>\n<p><strong>Story featured heavily on the airwaves last night:<\/strong> Defense attorney Mohamed Hamouda, who was part of the AWB defense team, began his discussion with El Hekaya\u2019s Amr Adib on the legal nuances of the case. But before any interesting facts came up, the discussion quickly fell to politics, where Hamouda said that his clients had no political ambitions (<u><a href=\"https:\/\/www.youtube.com\/watch?v=Hnlza5Ricdc\">watch, runtime: 2:13<\/a><\/u>). The politics angle also ran through a panel discussion that included Al Shorouk Editor-in-Chief Emad Al Din Hussein, who turned the talk into an analysis of what constitutes a \u201cpolitical crime,\u201d of which he claims Hosni Mubarak was guilty (<u><a href=\"https:\/\/www.youtube.com\/watch?v=trXxh0A5wZ0\">watch, runtime: 3:04<\/a><\/u>). Hamouda\u2019s response: Let history be the judge of \u201cpolitical crimes\u201d and not the courts (<u><a href=\"https:\/\/www.youtube.com\/watch?v=z_vMG6ZskKI&t=60s\">watch, runtime 3:47<\/a><\/u>).<\/p>\n<p><strong>The story is topping coverage of Egypt in the foreign press this morning<\/strong>, with the return to politics angle being widely noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>**#9 AWB defendants freed on EGP 100k bail: The sons of former president Hosni Mubarak and three others were freed on a EGP 100k bail each on Thursday, following their arrest the previous weekend on charges of insider trading stemming from the sale of Al Watany Bank of Egypt to the National Bank of Kuwait [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624924","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2df9c73c-abca-478d-968a-4ea7f957492e","order":"0","is_powered_by":true,"section_story_id":"84cf5c2e-79a3-4f25-a38c-88b0e1f4340f","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624906],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The Prosecutor General has appealed the decision to release the defendants, according to a statement. The assault, which took place in\u2026","rel":"","context":"In &quot;CURRENT AFFAIRS&quot;","block_context":{"text":"CURRENT AFFAIRS","link":"https:\/\/enterpriseam.com\/egypt\/category\/current-affairs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624753,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/18\/cairo-criminal-court-gives-al-watany-bank-insider-trading-case-defendants-until-20-october-to-decide-on-settlement\/","url_meta":{"origin":624924,"position":1},"title":"Cairo Criminal Court gives Al-Watany Bank insider trading case defendants until 20 October to decide on settlement","author":"enterpriseam admin","date":"18 September 2018","format":false,"excerpt":"**#2 AWB defendants have until 20 October to decide on a settlement? A Cairo Criminal Court has reportedly made an offer that could end a long-running insider trading case dating to 2012 that rattled markets this week after high-profile defendants were unexpectedly remanded to custody. The offer: The court has\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598650,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/abraaj-founder-arif-naqvi-freed-from-prison-after-paying-usd-19-mn-conditional-bail\/","url_meta":{"origin":624924,"position":2},"title":"Abraaj founder Arif Naqvi freed from prison after paying USD 19 mn conditional bail","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"Abraaj founder Arif Naqvi freed from prison after paying USD 19 mn conditional bail: Private equity firm Abraaj founder Arif Naqvi was released from prison in the UK on Tuesday evening, after his record GBP 15 mn (USD 19 mn) bail payment was paid, Bloomberg reports. Naqvi will now effectively\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647282,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/07\/court-rescinds-order-to-release-hassan-malek\/","url_meta":{"origin":624924,"position":3},"title":"Court rescinds order to release Hassan Malek","author":"enterpriseam admin","date":"7 May 2017","format":false,"excerpt":"A criminal court accepted yesterday an appeal against the release of Ikhwan businessman Hassan Malek and renewed his detention for an additional 45 days, Ahram Online reports. Yesterday\u2019s ruling overturns a decision from another court on Thursday to release Malek and two co-defendants on EGP 20k bail, pending investigation on\u2026","rel":"","context":"In &quot;Egypt Politics + Economics&quot;","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624647,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/16\/gamal-alaa-mubarak-are-detained-again\/","url_meta":{"origin":624924,"position":4},"title":"Gamal, Alaa Mubarak are detained (again)","author":"enterpriseam admin","date":"16 September 2018","format":false,"excerpt":"**#2 Gamal, Alaa Mubarak are detained (again) along with Hassan Heikal, Yasser El Mallawany: A Cairo Criminal Court ordered the arrest of Gamal and Alaa Mubarak and seven others in the latest long-drawn out saga of what the local press likes to call the \u201cstock market manipulation\u201d case. The sons\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624855,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/20\/what-were-tracking-on-20-september-2018\/","url_meta":{"origin":624924,"position":5},"title":"What we\u2019re tracking on 20 September 2018","author":"enterpriseam admin","date":"20 September 2018","format":false,"excerpt":"**#2 The EGX fell yesterday to its lowest close this year, marking its sharpest one-day drop since mid-2016, according to Reuters. The EGX fell 3.8% on Wednesday only a few days after the benchmark EGX30 closed down 3.6%, at the time its lowest level since January 2017.What\u2019s going on? 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