Former Minister of Industry Rashid Mohamed Rashid and his daughter Alia have allegedly fled the country to Cyprus, smuggling with them EGP 500.
Ibrahim Al-Heneidi, assistant to the Minister of Justice for Illicit Gains Affairs, referred Rashid and his daughter to criminal court on Monday, reported state-owned Al-Ahram.
Rashid is accused of taking advantage his position as a member of the political committee in the now-defunct National Democratic Party to acquire inside information about the Egyptian stock market and use it to his benefit.
According to the Illicit Gains Authority, Rashid hid money from financial disclosure he presented after he left office following the January 2011 revolution by transferring it from Cyprus to London with the help of his daughter.
Investigations also accuse Rashid of deliberately concealing his shares in 14 companies, and possession of property and land in Alexandria, Marsa Matrouh and Cairo in the financial disclosure.
The Illicit Gains Authority issued an international arrest warrant, and put Rashid and his daughter on the internationally wanted fugitives list for running from justice, with the assistance of the Cairo office of the International Criminal Police, known as Interpol.
Rashid and his daughter could face up to seven years in prison, and a fine that could reach EGP 1.44 bn if convicted.
Rashid’s wife was included in the investigation, said Al-Ahram.
Former General Prosecutor Talaat Abdullah had removed Rashid from the list of those banned from travel, and requested that the European Union end the freeze on his assets before investigations were completed.
The former minister and his daughter fled the country during the January 2011 uprising before former president Hosni Mubarak was forced from office.