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| Africa North |
| Alaa and Djamel Mubarak scandals! |
| 2011-02-11 |
| [Ennahar] Ennahar publishes new documents on assets of Egyptian geriatric President Hosni Mubarak's family abroad, specifically in Cyprus where the two president's sons, Djamel and Ala'a have several companies. Ennahar holds records from central banks of Cyprus and Spain. Djamel, the eldest son, who was seen, a short time ago, as the successor of his father, owns a company in Greece under the name of "Horus Food Agri-business", whose headquarters is located in the Cypriot capital Nicosia. That company was created 17 October 2005 and specializes in investment in agriculture and food processing. It is headed by British Ahmed al-Hamd, a Kuwaiti-born and Walid Kaba, a Briton of Egyptian origin who is also director of the company " Mid Invest Associated LTD, Gerard Van Ambel, a Dutch businessman as well as an Egyptian named Mohamed Hassan El-Khatib and a of Cypriot businesswoman. The name of Djamed Mubarak is mentioned in documents as advisor to the director of the company, alongside two Egyptians, Mohamed Aloui Timur and Hassan Heikal, son of journalist and writer Mohamed Hassanein Heikal, and finally the Member of Parliament Yasser Elmelouani, Conservative opposition. What is strange is the presence of the son of Hassanein Heikal and the Parliamentary Conservative Party member alongside with Djamel Mubarak while they are in opposition. The company is funded by the Arab African International Bank, which is an Egyptian-Kuwaiti bank that finances its investment in Cyprus. Regarding the second son of President Mubarak, Ala'a, documents of the Central Bank of Cyprus show that the latter owns a company in Cyprus too, "International Securities Fund", created April 5, 2001. The company is engaged in financial industry, a cover for the transfer of funds from Egypt to Cyprus and Spain through the "Bullion Company Ltd". Ala'a Mubarak runs the company with Cypriot businessmen and an Egyptian Izet Gerah a Cypriot citizen, owner of a group specializing in the manufacture of vehicle accessories, in which Ala'a holds shares. Furthermore, and according to banking statistics of the central bank of Spain, the company Bullion Company LTD has made transfers of funds from Cyprus to Spain under the guise of investments financing. |
| Posted by:Fred |