Former Egyptian president Hosni Mubarak’s two sons were reportedly arrested on Saturday for alleged stock manipulation, a judicial source said.
Gamal and Alaa Mubarak, together with three others, are accused of failing to notify the stock market of agreements to acquire majority stakes in several banks through front companies, according to an AFP report.
The accused attended a hearing at a Cairo criminal court, where a judge ordered their arrest. The next hearing has been set for October 20.
Alaa Mubarak confirmed his detention in a Twitter post, expressing hope that “the truth will be revealed one day.”
Their father, Hosni Mubarak, was ousted after three decades in power during Egypt’s 2011 Arab Spring revolution.
He was taken into custody in April 2011 in connection with the killings of hundreds of protesters by security forces during the popular uprising.
After six years in custody, Mubarak was acquitted last March and subsequently released.
Gamal Mubarak had headed a key ruling party committee and was long seen as his father’s successor.
His elder brother Alaa had 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 spent time in provisional detention but have been free for the past three years.
Alongside their father, Alaa and Gamal Mubarak were sentenced in May 2015 to three years in prison for diverting more than $11.5 million in public money to maintain presidential palaces.
Their sentences were covered by time already served.
