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Egypt’s Misdemeanor Court delayed the trial of Ahmed Ezz, once preeminent steel and iron tycoon and the former secretary for organizational affairs for the deposed National Democratic Party, to November 18th. Ezz faces charges of evading taxes of about EGP 10,680,000.
Ezz was referred to the court after the investigations proved that his Al-Ezz Dekheila Steel Co. and Ezz Steel Holding achieved profits of EGP 42,800,000 and evaded to pay taxes of EGP 10,680,000 during the period from 2000 to 2010.
Ahmed Ezz is currently detained pending investigation of illegally seizing shares of Dekheila Steel Company.
