20110705
Reuters
CAIRO (Reuters) - An Egyptian court sentenced former Trade Minister Rachid Mohamed Rachid in absentia to five years in prison on Tuesday for squandering public funds, a judicial source said.

Rachid and two other business executives were also fined 2 million Egyptian pounds each and ordered to pay the same amount again in compensation to the state, said the source.

Rachid and the two executives involved with a government-run body to support industry were charged with squandering public wealth.

Prosecutors said Rachid, who fled the country after an uprising against former President Hosni Mubarak and has already been convicted in another case, wasted 12.8 million pounds of state funds.

One of the two business executives was charged a 12.7 million pound fine, the source said.