An Egyptian businesswoman, on the run for 22 years, has gone on trial on charges of a multi-million dollar fraud.

Hoda Abdel Moneim, 62, nicknamed The Iron Lady, appeared in court on Sunday, two days after being captured re-entering Egypt through Cairo airport.

Abdel Moneim had been living in Greece since escaping charges of forgery and embezzlement of up to 45mn Egyptian pounds (about $8mn) in bank loans in 1987.

She had been sentenced in absentia in 1996 to 64 years in prison.

Abdel Mounim is said to have operated an investment company in Egypt which allegedly took money from investors and placed it in an Ponzi scheme - where new investors' money is used to pay fake returns to older investors.

The charges were levelled against Abdel Moneim after she defaulted on bank loans and following complaints that she had not delivered property that she had sold.

Abdel Meguid Mahmud, the public prosecutor, ordered her retrial on Saturday.