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Egyptian court releases Mubarak sons

The two sons of former Egyptian president Hosni Mubarak were released on bail Thursday, days after being arrested for alleged stock market manipulation, according to a judicial source and their lawyer.

Gamal and Alaa Mubarak were detained Saturday and accused along with three other people of failing to notify the stock exchange of agreements to acquire majority stakes in several banks through front companies.

A Cairo court ordered their release on bail of 100,000 pounds ($5,550, 4,700 euros), lawyer Farid el-Dib said.

A new hearing is scheduled for October 20.

On Sunday, following their arrest, Egypt’s stock market suffered its worst day since February.

Since the 2011 ouster of Hosni Mubarak, a number of legal proceedings have been launched against the three-decade ruler and his relatives.

Gamal Mubarak had headed a key ruling party committee and was long seen as his father’s successor.

Older brother Alaa stayed out of politics but is accused of having amassed a fortune through his father’s contacts.

After being arrested in 2011 for a number of alleged crimes, the two sons had several spells in provisional detention. They have been free for the past three years.

Alongside their father, Alaa and Gamal Mubarak were sentenced in May 2015 to three years in jail for diverting more than $11.5 million (10 million euros) in public money to maintain presidential palaces.

Their sentences were covered by time already served.

In March 2017, Hosni Mubarak was acquitted of charges of killing protesters, but he remains under investigation for alleged corruption.

Relative judicial leniency given to Mubarak and his inner circle have not been extended to supporters of his successor, former Islamist president Mohamed Morsi — ousted by the army in 2013.

Morsi supporters have since suffered fierce repression by authorities.

On September 8, a Cairo court sentenced 75 people, including leaders of Morsi’s Muslim Brotherhood, to death in one of Egypt’s largest mass trials since the 2011 uprising.

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