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Egypt court overturns freeze on assets of 23 investors
March 20, 2013 / 2:12 PM / 5 years ago

Egypt court overturns freeze on assets of 23 investors

CAIRO, March 20 (Reuters) - An Egyptian court overturned on Wednesday a public prosecutor’s decision to freeze the assets of 23 investors who are under investigation for alleged stock market manipulation.

The criminal court ruling was announced by Judge Assem Abdel Hamid Nasr.

Earlier this month, the public prosecutor’s office ordered the freeze on assets of the investors while it investigated the 2007 sale of Egypt’s Al-Watany Bank to National Bank of Kuwait, an official in office said.

Egyptian state media said the investors included five Saudis and two from the United Arab Emirates, as well as employees of a number of banks and the Egyptian stock exchange.

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