Egypt shuts 2 supermarket chains for Brotherhood ties

Egypt shuts 2 supermarket chains for Brotherhood ties
Sun Jun 15, 2014 23:05:35

A judicial committee formed in late 2013 to handle and examine the Brotherhood's confiscated assets has ordered a freeze on the funds of both supermarkets, following the closure of all respective branches.

Zad market, which opened in 2012, is owned by prominent Brotherhood leader and businessman Khairat El-Shater, now in jail on a variety of charges. The market has 15 stores in Cairo's Nasr City district.

Seoudi, however, was established in 1938 and is owned by the businessman Abdel El-Rahman Seoudi, who was arrested in 2007 and later acquitted of charges of belonging to the banned group.

At least nine Seoudi branches have been placed under police surveillance.

A crackdown on Brotherhood members and the group's top leadership since the military-ouster of Egypt’s first freely-elected president Mohamed Morsi in July 2013 has also seen the group's assets confiscated and frozen.

The Brotherhood was officially declared a “terrorist” organization in December 2013 by Egypt's military-installed interim authorities.

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