Wednesday, March 09, 2011

Report: Mubarak’s sons received millions of dollars for backing Israeli gas sales

 A Kuwaiti newspaper Al-Jarida reported Sunday that it obtained the documents from the Egyptian interior ministry., March 7, 2011

Source: Haaretz

Gamal and Alaa Mubarak, the two sons of former Egyptian President Hosni Mubarak, received hundreds of millions of dollars in “commissions” from the sale of Egyptian natural gas to Israel, the Kuwaiti newspaper Al-Jarida reported yesterday.

Gamal initially demanded a 10% commission but eventually agreed to half of that, while his elder brother and businessman Hussein Salem settled for 2.5% each from the $2.5-billion deal signed in May 2005. Salem, considered to be very close to the Mubarak family, is the the largest shareholder in Eastern Mediterranean Gas, the Egyptian firm that supplied the gas to Israel. Mubarak’s sons allegedly backed the controversial gas exports to Israel in return for the payments.

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