Former Egypt PM Ebeid referred for corruption probe | world | Hindustan Times
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Former Egypt PM Ebeid referred for corruption probe

Egypt's administrative prosecution authority on Tuesday referred former prime minister Atef Ebeif and another ex-minister for investigation into charges of corruption and wasting public funds.

world Updated: Jun 28, 2011 23:01 IST

Egypt's administrative prosecution authority on Tuesday referred former prime minister Atef Ebeif and another ex-minister for investigation into charges of corruption and wasting public funds.

During his tenure as prime minister from 1999 to 2004, Ebeid had privatised several successful state-owned firms, and is believed to have sold them off at cheap rates.

The Administrative prosecution referred him and the then minister of business sector Mokhtar Khattab to the General Prosecution for a probe into charges of squandering public money.

The two will be interrogated for the selling of the Arab Company for Foreign Trade, at a price much lower than its real price.

The prosecution authority in a statement also asked the cabinet to revoke the sale and adopt necessary measures to protect the company's assets and workers' rights.

Ebeid was also earlier accused of accumulating illegal profits and stealing public money, and also selling the Helwan Portland Cement Company for way less its value.