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Alaa Mubarak

Alaa Mubarak
علاء مبارك
Alaa Mubarak in Ismailia, Egypt 2009
Born
Alaa Mohammed Hosni El Sayed Mubarak

(1960-11-26) 26 November 1960 (age 63)
Cairo, Egypt
Alma materSt. George's College, Cairo
American University in Cairo (MBA)
OccupationBusinessman
Children2
Parents

Alaa Mohammed Hosni El Sayed Mubarak (Arabic: علاء محمد حسني السيد مبارك;  Egyptian Arabic pronunciation: [ʕæˈlæːʔ mæˈħæmmæd ˈħosni (ʔe)sˈsæjjed moˈbɑːɾɑk]) (born 26 November 1960)[1] is an Egyptian businessman and the elder of two sons of Hosni Mubarak, the former President of Egypt who served from 1981 to 2011, and his wife, Suzanne Mubarak.

Early life and education

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Alaa Mubarak was born in Cairo to Suzanne Mubarak and Hosni Mubarak, who became President of Egypt in 1981, ousted in 2011.[2] Alaa attended St. George's College, Cairo and graduated from the American University in Cairo.[3]

Career

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Mubarak has kept a much lower profile than his younger brother, Gamal who was involved in politics prior to the Egyptian revolution of 2011.[4]

In 2011, he was arrested together with his father and brother and three of them later convicted for corruption in 2014.[5] Alaa and his brother were released in October 2015 after completing their four-year prison sentence, which included time already served.[6][7] The EU had imposed sanctions on all three of them, and froze all assets that Mubarak disclosed.[8]

Alaa Mubarak has been named in association with the Panama Papers.[9] In 2013, the British Virgin Islands financial services discovered that Alaa Mubarak owned 'Pan World Investments', an investment fund for the Mubarak family of nearly $1 billion incorporated by Mossack Fonseca, who said he was introduced to them by Credit Suisse.[8]

In September 2018, Alaa was arrested along with his brother Gamal, and accused of manipulating the stock market.[4] Alaa's corruption conviction, along with the corruption convictions of his father and brother, was upheld by Egypt's Court of Cassation the same month as well.[10] Both Alaa and his brother were later acquitted in February 2020 of the 2018 illicit share trading charge.[11]

On 12 March 2021, the European Union revoked the sanctions against nine Egyptian individuals including Mubarak family, adopted since 2011.[12]

Personal life

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Mubarak is married to Heidy Rasekh, with whom he has had two sons, Muhammad and Omar Alaa Mubarak. Muhammad died on 18 May 2009, aged 12. It was announced that he had suffered a 'severe health crisis', which was identified as a brain haemorrhage. He was checked into the Maadi Military Hospital for a couple of hours before being flown to Paris for further care, where he later died. His body was returned and buried in Cairo.[3]

References

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  1. ^ Integrity), Margarita Torres (Center for Public. "Passport of Alaa Mubarak". documentcloud.org. Retrieved 6 December 2017.
  2. ^ (28 June 2012) The Family Al Jazeera)
  3. ^ a b "Death of President Mubarak's Grandson" (in Arabic). BBC Arabic. 18 May 2009. Retrieved 19 May 2009.
  4. ^ a b "Egypt ex-President Mubarak's sons arrested". BBC News. 15 September 2018. Retrieved 17 September 2018.
  5. ^ Kirkpatrick, David D. (22 May 2018). "Mubarak Gets 3 Years for Embezzlement, and His Sons Get 4". New York Times. Retrieved 10 May 2021.
  6. ^ "Egypt court orders release of Hosni Mubarak's sons". The Guardian. Associated Press. 12 October 2015.
  7. ^ "Egypt court orders release of Hosni Mubarak's sons". BBC. 12 October 2015. Retrieved 20 April 2016.
  8. ^ a b "Mossack Fonseca: inside the firm that helps the super-rich hide their money". The Guardian. 8 April 2016. Retrieved 7 May 2016.
  9. ^ Rayner, Gordon; Morgan, Tom; Riley-Smith, Ben; McCann, Kate (6 April 2016). "Panama Papers: offshore firm set up by Cameron's father was moved to Ireland in year son became PM". The Telegraph. Retrieved 6 April 2016.
  10. ^ Hendawi, Hamza (22 September 2018). "Egypt court upholds corruption conviction of Mubarak, sons". Associated Press. Retrieved 10 May 2021.
  11. ^ "Egyptian Court Acquits Mubarak's Sons of Illicit Share Trading". New York Times. Reuters. 22 February 2020. Retrieved 10 May 2021.
  12. ^ "Egypt: EU revokes sanctions framework and delists 9 people". Council of the European Union. 12 March 2021.
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