Sunday, September 23, 2012

Wealth of former Egyptian interior minister estimated at $3bn


Official documents obtained by Al-Ahram daily indicate that imprisoned Habib El-Adly's fortunes are around $3 billion, including a 'fleet' of fancy cars and dozens of villas  

Egypt's former minister of interior Habib El-Adly reportedly owns 42 palaces and villas, 75 feddens and a 'fleet' of luxury cars, state-owned Al-Ahram daily newspaper reported on Saturday.

Al-Ahram has obtained official documents which will be handed to the country's illicit gains authority that include details about El-Adly's wealth, which is estimated at LE18 billion ($3 billion).

El-Adly and ousted strongman Hosni Mubarak are currently serving life sentences for failing to prevent the killing of protesters during last year's uprising.

Most of the former interior minister's properties are located in Sharm El-Sheikh, the North Coast, Mohandiseen and Zamalek, all in wealthy neighbourhoods.

El-Adly owns a villa in satellite 6 October City surrounded by a bulletproof glass fa├žade, according to Al-Ahram.

It is reported that there are other undisclosed properties that have been registered under the names of his relatives.

In July 2011, El-Adly was sentenced to five years in prison for squandering public funds in the infamous number plates case. Earlier that same year the former interior minister was handed a 12-year sentence for corruption charges related to using his senior position to illegally gain profits.

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