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Sainsbury's Boss Jailed In Absentia In Egypt

Sainsbury's has moved to reject a legal judgment in Egypt that has resulted in a two-year jail sentence being imposed on its chief executive.

The supermarket chain issued a statement after The Times reported that Mike Coupe was convicted, in absentia, in a case relating to Sainsbury's failed foray into the Egypt market in 1999 when it bought an 80% stake in Edge.

The venture, which ultimately cost Sainsbury's more than £110m, later ended when Sainsbury's sold back its shares to a local businessman, Amr el-Nasharty.

He has accused the UK chain of selling him shares in a business that was insolvent.

The newspaper said it was alleged that Mr Coupe was being held responsible for breaking bankruptcy law in Egypt for attempting to seize cheques last July.

According to The Times, Mr Coupe attended a court in Giza last Sunday to appeal against his conviction - which dates back to last September - in an appearance carefully orchestrated by the British ambassador, John Casson.

The case was handed to another court ahead of a new hearing next month.

Sainsbury's said: "We are aware of media coverage today outlining a legal case in Egypt brought against our chief executive Mike Coupe.

"This relates to a historic commercial dispute in which Mike Coupe had no involvement and we strongly refute all the allegations.

"Mike Coupe was not employed by Sainsbury's at the time of the original business deal in 2001 and has never met the complainant.

"When Mr el-Nasharty bought our interest in the Egyptian joint venture we had with him in 2001, he paid us with cheques that were dishonoured.

Mr el-Nasharty is now claiming that Mike was in Egypt on 15 July 2014 and seized these cheques, which is an impossibility.

"Mike Coupe was in London carrying out his normal duties that day.

"In September 2014 Mike Coupe was convicted, without notice of the proceedings against him and in his absence, in an Egyptian Court.

"We have taken all necessary steps to appeal against these groundless claims and will continue to do so."