Egypt bans OCI chief from leaving country-state media
CAIRO, March 3
CAIRO, March 3 (Reuters) - Egyptian authorities have banned the chief executive of Orascom Construction Industries , one of the country's biggest companies, from leaving the country as part of an investigation into tax evasion, state media said on Sunday.
The public prosecutor ordered that OCI chief executive Nassef Sawiris and his father Onsi Sawiris be banned from travel, the state news agency MENA said.
The order from the public prosecutor is part of an investigation into accusations they evaded about 14 billion Egyptian pounds ($2.1 billion) of taxes during the sale of Orascom Building, an OCI subsidiary, to French firm Lafarge , MENA said.
Reuters could not reach either for comment and an official from Orascom was not immediately available.
It was not immediately clear if either Sawiris was in Egypt. If they are not, they would be detained on arrival under the order.
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- 'Duck Dynasty' anti-gay fallout sparks debate on religion, tolerance
- Zuckerberg to sell Facebook shares worth about $2.3 billion |