Ahmed Ezz, a 55-year-old businessman and a close associate of ousted President Hosni Mubarak's son was asked to pay 50 million Egyptian pounds as bail (about USD 7 million) for charges of profiteering by the North Giza Criminal Court.
On March 10, the steel tycoon and former leader of the disbanded National Democratic Party, paid 2 million Egyptian pounds as bail in the case of squandering 5 billion Egyptian pounds of public money in the state's giant steel plant Ezz El-Dekheila.
He is the former chairman of Ezz Steel and has 55 per cent stake in the largest steel complex in the Middle East.
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