Do you remember when Ahmed Heikal , the CEO of none other than the giant Citadel Capital said that he invest billions of dollars in the Arab world because he believes in Arab Nationalism in Ramadan 2009 with Lamis El Hadidy !?
Well it turned out his brother Hassan Heikal in a Bloomberg report about EFG-Hermes in 2008 was a leftist socialist according to his own quote !!
I fear to find out that Abdel Hamid Abdel Nasser is a royalist and Gamal Mubarak is leftist anarchist while Mohamed Naguib’s sons were neo-liberals !!
Hassan Heikal and his business partner Yasser El Mallawny found themselves under the spot light when Yosri Fouda brought up Gamal Mubarak’s connections with EFG-Hermes.
Despite Fouda did not dig deep enough with more solid economic details , he managed to create buzz. It was worth to mention that on February 17,2011 EFG-Hermes issued an official statement regarding Gamal Mubarak. According to that statement Gamal Mubarak did own shares in EFG-Hermes private equity.
There was a strong rumor in town saying that El Mallawny fled the country EFG-Hermes had to denied officially. Personally I got two sources one that swears that he left while the other one says that he is still in Egypt. According to Bloomberg’s 2008 report Yasser El Mallawny , the Pasha’s heir was a member in the NDP’s policies committee.
Anyhow there is a news that Hassan Heikal will apear with Yosri Fouda on Monday to address the elephant in the room regarding Gamal Mubarak and EFG-Hermes.
The files of the Mubaraks’ corruption along with their associates are too many , too big and too complicated for sure.
I will end with with a quote from Yosri Fouda’s special episode about the Mubaraks’ fortune :
What was stolen from land in Egypt only in time of Mubarak era was equal to Bahrain, Palestine, Lebanon and Qatar.
By the way you must read this report from Ahram Online about the Mubaraks and their business connections.