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Al-Masry Al-Youm Founder Arrested on Charges of Fraud

Salah Diab, founder of privately owned newspaper Al-Masry Al-Youm was arrested today on charges of fraud and possessing weapons without a license.

The founder of privately owned newspaper Al-Masry Al-Youm, Salah Diab, was detained by Egyptian security forces on Sunday on charges of possessing weapons and ammunition without a license, and fraud.

The prominent business mogul was arrested on Sunday at his home, along with his son Tawfik, both facing charges of embezzlement and wasting public funds, Middle East Eye reported. The arrest took place two days after freezing the assets of 16 other businessmen for alleged corruption. According to state-run news agency MENA, Diab stands accused of purchasing vast swathes of public land at below-market prices. 

Diab's personal assets were frozen temporarily, as were the assets of others investigated in the same case including real estate tycoon Mahmoud El Gammal and former Giza governor Yehia Saad, Aswat Masriya reported.  

Photo Credit: Daily News