The Middle East’s leading investment bank is tangled up in Egyptian corruption allegations involving two sons of the deposed president Hosni Mubarak, state media reported on Wednesday.
Gamal and Alaa Mubarak, as well as the two chief executive officers and a former CEO of the Cairo-based investment bank EFG-Hermes, are being charged with corrupt stock exchange dealings worth more than $400m in connection with the 2007 sale of Al-Watany Bank of Egypt, state media said. Four others were also indicted.
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