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Desperately Seeking Gamal Researching his assets Nicholas Hildyard The Corner House

Desperately Seeking Gamal Researching his assets Nicholas Hildyard The Corner House. Looking for Clues. What’s Gamal himself said about his companies? Intelligence from Egyptian and other social movements Newspaper reports. Google Search : “Gamal Mubarak + Linkedin”.

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Desperately Seeking Gamal Researching his assets Nicholas Hildyard The Corner House

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  1. Desperately Seeking Gamal Researching his assets Nicholas Hildyard The Corner House

  2. Looking for Clues • What’s Gamal himself said about his companies? • Intelligence from Egyptian and other social movements • Newspaper reports

  3. Google Search : “Gamal Mubarak + Linkedin”

  4. Google Search: “Gamal Mubarak + Wiki”

  5. Search:“Mubarak” + EFG Hermes

  6. Three potential assets . . . • Medinvest Associates, UK • Bullion Company Limited, ???? • EFG Hermes Private Equity, ????

  7. Opencorporates search: EFG Hermes Private Equity

  8. Opencorporates:Bullion

  9. Duedil:Medinvest Associates

  10. Getting a snapshot through Duedil

  11. But Medinvest had no substantive assets . .

  12. Dissolved AFTER EU Freezing Order

  13. QUESTION • Why did UK authorities permit company to be wound up, given its links to Gamal Mubarak and the EU Council freezing regulation?

  14. Medinvest Shareholders

  15. Off to Companies House . . .

  16. Gamaldirector

  17. Annual return for 2000 gives Gamal’s address – a potentially seizable asset

  18. Bullion’s country of registration

  19. Company Registrars in other Countries

  20. Cyprus

  21. Searches on Bullion in Cyprus Registry reveal . . . Incorporated: 23 August 1996 in Cyprus, Co Number: ΗΕ 80915 Current status: Active Mubarak-related Directors: • Ala’a Mubarak, 23 August 1996 to 22 February 2011 • Walid Kaba (British), 29 August 1996 to 7 February 2008 Ownership:CP Palema Services Beneficial owners are unknown. ·      Previous major shareholders have included Panworld Investments Inc, Nakoda Limited, Walid Kaba and Said Kaba. Assets: No details available.

  22. Bullion Shareholders Aug 1996 – Jan 2008 Walid Kaba Said Kaba Marrash Panworld Investments INC BVI or Mauritius? 25% 25% 50% Bullion Co Limited Registered in Cyprus Skin the game? 100% 35% or 36% International Securities Fund Established 2001 Managed by Bullion Medinvest Associates Limited UK After 2003? EFG-Hermes Private Equity BV

  23. Bullion Co Limited ownership structure 5 February 2008 to 30 October 2010* CP Palema Administrator Registered in Cyprus Nominee shareholder? ACTING FOR WHOM? CP Palema Services Limited Registered in Cyprus Nominee shareholder? ACTING FOR WHOM? 1% 99% Walid Kaba Said Kaba Marrash Nakoda Limited Cyprus 50% 25% 25% 50% Bullion Co Limited Registered in Cyprus Skin the game? 100% 35% or 36% International Securities Fund Established 2001 Managed by Bullion Medinvest Associates Limited UK After 2003? EFG-Hermes Private Equity BV

  24. ΠΑΜΠΟΣ ΠΑΠΑΣ ΧΑΡΑΛΑΜΠΟΣ ΠΑΠΑΣ 100% 100% Karlstem Limited CP Palema Services Limited ACTING FOR WHOM? 99% 1% 50 Nakoda 50% Bullion Co Cyprus 100% 35% or 36% ??? International Securities Medinvest Associates Limited After 2003? EFG-Hermes Private Equity Bullion Current Shareholders

  25. Three more companiesNakodaPanworld Investments IncC.P. Palema Services

  26. Search: “EFG Hermes Annual Reports”

  27. What the EFG Hermes accounts tell. . . • EFG Hermes Private Equity not mentioned until 2000,thus a number of years after 1997 when Mubarak refered to it in interview. • Shareholding pattern for EFG Hermes Private Equity does not accord with Mubarak having a stake • In 2003, EFG Hermes Private Equity disappears from the list of subsidiaries • A third company –EFG-Hermes Private Equity (BVI)– also appears in the 2003 accounts . This British Virgin Island-registered company is the only one with a shareholding patter that accords with Mubarak having a 18% stake

  28. “EFG-Hermes Private Equity”, as recorded in EFG-Hermes Annual Reports Name Date first recorded in Annual Report EFG-Hermes Holding Direct Stake EFG-Hermes Holding Indirect Stake Current Status EFG-Hermes Private Equity Accounts for year ending 31 December 2000 96.2% 3.8% No mention after 2003 EFG-Hermes Private Equity (Egypt) Accounts for year ending 31 December 2003 96.3% 3.7% No mention after 2003 EFG-Hermes Private Equity (BVI) Accounts for year ending 31 December 2003 65% Current?

  29. Questions to EFG Hermes Is EFG Hermes Private Equity (BVI) the same as the EFG Hermes referred to in the statement of 2011? Does Mubarak hold a beneficial interest and if so how? Invitation to comment on specific statements

  30. Bingo! • EFG Hermes confirms Gamal Mubarak’s interest in EFG Hermes Private Equity BVI

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