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Wednesday
May212014

Mubarak jailed 3 years for embezzlement

Deposed former Egyptian president Hosni Mubarak was sentenced Wednesday by a Cairo court to three years in prison for embezzling public funds.

Mubarak's two sons were jailed for four years on charges of stealing state funds that had been earmarked for the renovation of presidential palaces but were diverted to make lavish renovations to family properties.

The Cairo court also fined Mubarak and his sons nearly $3 million and ordered them to repay about $17.5 million in stolen funds.

Mubarak has been under house arrest at a military hospital pending his retrial for complicity in the deaths of protesters during the 2011 revolt that deposed him. He had spent 23 months in jail until moving to house arrest in August.

He's also accused in two other cases of corruption that haven't yet reached the court.

Judge Osama Shaheen said, "Instead of abiding by the constitution and laws, he gave himself and his sons the freedom to take from public funds whatever they wanted to without oversight and without regard."

Judicial sources told Reuters Mubarak probably won't serve the entire three years for the corruption charges and time served would likely be applied against Wednesday's sentence.

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Julie DiMauro is the executive editor of FCPA Blog and can be reached here.