Mubarak sons released on bail in market manipulation case

A Cairo criminal court ruled on Thursday to release Gamal and Alaa Mubarak, the two sons of deposed president Hosni Mubarak, on bail after they were taken into custody on Saturday awaiting their trial over charges of manipulating the stock market.

Bail was set at 10,000 EGP ($559) each.

A judge at a hearing on Saturday ordered the arrest of the pair along with three others after they failed to notify the stock market of agreements to acquire majority shares in several banks through front companies.

Their trial date has been set for November 20.

Allegations of serious corruption has surrounded the Mubarak dynasty for decades.

After three decades in power, Hosni Mubarak was deposed during the 2011 Arab Spring.

Under his father's rule, Gamal Mubarak headed a key ruling party committee and was long seen as his successor.

Older brother Alaa 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 had several spells in provisional detention. They have been free for the past three years. 

Alongside their father, Alaa and Gamal Mubarak were sentenced in May 2015 to three years in jail for diverting more than 10 million euros ($11.5 million) in public money to maintain presidential palaces. 

Their sentences were covered by time already served.

In March 2017, Hosni Mubarak was acquitted of charges of killing protesters but the former strongman remains under investigation for alleged corruption.

Agencies contributed to this report.

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