Egypt court acquits ex-oil minister of corruption charges

February 21, 2015 1:09 PM

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CAIRO (Reuters) - An Egyptian court acquitted former oil minister Sameh Fahmy of charges of selling cheap gas to Israel and squandering public funds and threw out his 15-year jail sentence, a judicial source said on Saturday.

Fahmy was first arrested and held in custody in April 2011. Prosecutors said former president Hosni Mubarak's government sold gas at preferential rates to Israel and other countries, costing Egypt billions of dollars in lost revenue.

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