A Cairo court has sentenced Ahmed Ezz, the former chairman of Egyptian steelmaker Ezz Steel, to 37 years in jail for profiteering and losses of around EGP 5 billion ($740 million) worth of public funds between 2001 and 2011.
As SteelOrbis previously reported, in October 2012 Ahmed Ezz was sentenced to seven years in jail for illegal acquisition of funds between 2003 and 2011, in deals related to the acquisition of the Ezz El-Dekheila steel plant.