PPP KINGDOM

PPP KINGDOM

HSBC UNDER FIRE OVER LEADING ROLE IN LAND DEALS FOR MUBARAK REGIME

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http://www.guardian.co.uk/business/2011/may/01/hsbc-egypt-corruption-mubarak-property

HSBC faces accusations that it helped to enrich senior Egyptian political and business figures now at the centre of corruption investigations.

More than a dozen former associates of ousted president Hosni Mubarakare facing trial, as Egyptian investigators focus on allegations that land and state-owned industrial assets were sold at knockdown prices in a process the Organisation for Economic Co-operation and Development (OECD) says was secretive

The bank’s involvement with controversial Egyptian tycoons has raised questions about the role played by its former chairman, Lord Green, who in January was appointed by David Cameron as government trade and investment minister.

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