Govt Committee Clears 30 MB Companies of Financial Irregularities

Govt Committee Clears 30 MB Companies of Financial Irregularities

 .The report of the experts of illegal gain and public property administration at the Ministry of Justice revealed the result of studying the case of the Muslim Brotherhood (MB) businessmen that thirty companies have no document or paper that may prove any charge, six companies haven”t practiced any business and four companies stopped business several years ago.

The investigation revealed also that co-owners of eleven companies don”t include any one of the accused in the case in addition to four companies that have no papers at official authorities, possibly referring to their inexistence. The comments of the experts committee were restricted to the performance of 17 companies and in issues related to showing full profits of budgets, out of 67 companies whose papers have been probed.

A specialist in the MB defence team revealed, after obtaining a copy of the report, that the value of the investments in the investigated companies is according to the committee up to 448 million pounds. This made the MB defence team accuse the Justice Ministry committee of counterfeiting, uncovering reports and relying on the reports of the engineering committees about the assets of the companies to determine the value although the value determined by the engineering committee reports does not reach half that estimation.

The source said that the defense team will sue the committee as it sought to over blow the wealth of the MB leaders to deceive the court and public opinion.

The report revealed also that the Egyptian government held a deal with Al-Muhandisoon Al-Muttahidooon- United Engineers for trade and contracts- (one of the accused companies) for building a complex and a residence for the Egyptian embassy to Djibouti in January 2006. The report cleared also companies of Saudi, Khaled Awda and Al Haddad.

The report unveiled also an arbitrary estimation from tax committees for profits of some companies and after referring companies to the military court to hide the recklessness of these committees.

The report of the Justice Ministry confirmed that all papers have no financial violations in establishing any company or sources of its capital, and that these companies received no external donations or contributions. This includes about thirty companies.

It is worth mentioning that the Higher State Security Prosecution tasked an experts committee from the illegal gain and public property administration at the Justice Ministry in late December 2006 to study the papers and budgets of the companies of those accused in the case to determine officials, sources of the real capitals of these companies and how far there is a cheat in their budgets and whether their capitals are sufficient for carrying out any business and whether there is any external financial donations or contributions in addition to how these companies spend money and results of their businesses in terms of profit and loss.

The three-expert committee that included Saad Rajab, Abdul Rahman Ezzat and Ahmed Hassan studied papers of sixty seven companies which it got from the Tax Department, the department of trade registry, the department of customs and the public traffic administration, in addition to the sequestered items seized from premises of companies and houses owned by the accused, including tax files, foundation contracts, budgets, bills of sales of the branches and the shops, dealings with banks, including the National Bank and Société General bank, Misr International Bank, African Arab Bank, SBC, Egyptian National Bank, the Arab bank and the Saudi Egyptian Tamwil and Faisal Islamic Bank.

The experts” notes were restricted to the performance of 17 companies mostly focusing on showing the total profits and budgets, issues related to the tax discipline.

 Engineer Khairat Al-Shater accused the committee of forgery during the court hearing to the committee chief specially that the report is a key pillar of the case according to which the prosecution directed the charge of money laundry against the MB leaders.