The Cairo Criminal Court ordered the release of Mubarak-era steel mogul Ahmed Ezz, pending his trial on charges of obtaining free licenses for his steel factories, reported the state-run Middle East News Agency on Monday.
His case was adjourned to December 5, MENA said.
Ezz, a former leader of the disbanded National Democratic Party, is implicated in the case alongside Amr Assal, former chairman of the Industrial Development Authority. They had both been sentenced to 10 years in prison. Former Trade and Industry Minister Rachid Mohamed Rachid was sentenced to 15 years in absentia in the same case. However, the ruling was overturned last December by the Court of Cassation, which ordered a retrial before new judges.
The three Mubarak-era officials were found guilty of profiteering and squandering LE660 million in public funds by obtaining two free licenses to produce steel, in violation of a law stipulating that such licenses be granted through a public bid.
Last month, Ezz was acquitted by the Economic Misdemeanors Court on charges of manipulating the steel industry.