Thursday December 7th, 2023
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Mubarek Aide Hussein Salem Returns to Egypt - For 5.3 Billion EGP

After five years away the businessman can now return - for a hefty price.

Staff Writer

Hussein Salem, fugitive businessman and longtime associate of ex-president Hosni Mubarek, has given up 75% of his wealth to the Egyptian government in exchange for having corruption charges against him dropped.

According to Al Ahram, the former shareholder in East Mediterranean Gas handed over 5.3 billion Egyptian pounds ($596 USD) in exchange for his and his families' names being dropped from banned travel lists.

Salem fled to Spain shortly after the 2011 revolution and was convicted of two jail sentences in exile, charged with squandering public funds, profiteering and money laundering. The Illicit Gains Authority has received requests from 26 other Mubarek-era officials to clear their names.