Egypt: Prominent businessman Salah Diab accused of dodging Dh2.5b in taxes

Cairo: Egyptian prosecutors have remanded the well-known businessman Salah Diab for 15 days pending further questioning on charges of seizing state-owned land and tax evasion, local media reported today.

Diab, the co-founder of the influential private newspaper Al Masri Al Youm, is accused of illegally building factories on state land. He also faces charges of dodging the payment of 11.13 billion Egyptian pounds (Dh2.5 billion) over years, semi-official newspaper Al Ahram said.

He was arrested from his house in Giza near Cairo earlier this week over alleged financial irregularities.

His arrest comes amid a high-profile crackdown by Egyptian authorities on illegal encroachments on state land and unlicensed building.