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Egypt to Study Offers to Pay Back State Money, Shorouk Says

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March 19 (Bloomberg) -- Egypt’s public prosecutor ordered a committee to be formed to study requests by former officials and businessmen wanted or held on corruption charges to repay money owed to the state in return for dropping legal action against them, Al Shorouk newspaper reported today.

A number of officials and businessmen have offered to repay a total of 3.6 billion Egyptian pounds ($607 million) and to give back plots of lands unlawfully allocated to them, the Cairo-based newspaper reported, without saying how it got the information.

The people involved include steel tycoon Ahmed Ezz, businessman Yasseen Mansour, former Housing Minister Ahmed el-Maghrabi and former Tourism Minister Zoheir Garranah, it said.

To contact the reporter on this story: Mariam Fam in Cairo at mfam1@bloomberg.net.

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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